Russell Collins has been appointed Chairman of the Financial Services Practitioner Panel (the Panel) from 1 July 2011, having served on the Panel for over five years. Russell is a partner at Deloitte LLP, the business advisory firm. He succeeds Iain Cornish who has stepped down from the Chairmanship as he prepares to leave Yorkshire Building Society.
In addition, the Panel has recently been strengthened with a number of new appointments. The following have been appointed from 1 August 2011:
Graham Beale - Chief Executive, Nationwide Building Society
Joe Garner - Head of UK Retail Bank and Deputy Chief Executive, HSBC Bank plc
Paul Geddes - Chief Executive, RBS Insurance
John Pollock - Group Executive Director, Protection & Annuities, Legal & General
Also appointed to the Panel earlier this year were Mark Harding, Group General Counsel, Barclays Bank PLC; and Colin Grassie, Chief Executive Officer, Deutsche Bank UK.
Hector Sants, Chief Executive of the FSA, said:
"I am pleased that Russell has agreed to chair the Practitioner Panel. His background in professional services working with firms from all sectors of the industry is helpful during this time of change in the regulation of financial services, both in the UK and globally. The fact that the Panel has continued to recruit senior industry representatives is testament to its importance in providing input and challenge to the FSA's work. I am also grateful to Iain Cornish for his work as Chairman and other members of the Panel who have recently left the Panel for their contribution to the work of the FSA during this time of significant change and challenge for the industry."
Russell Collins said on his appointment:
"I am delighted to chair the Panel as it continues to represent the interests of practitioners and provide input to the FSA in meeting its objectives. This is a vital time of transition to the Government's proposed new regulatory infrastructure. I believe the Panel performs a key role to ensure regulation is effective, an objective which practitioners fully support. We will actively engage with Government, HM Treasury, the FSA and the Bank of England on the proposed new regulatory structure for the UK."
NOTES FOR EDITORS
The Financial Services Practitioner Panel was established under the Financial Services and Markets Act 2000 to represent the interests of practitioners and is independent of the FSA. Members are drawn from regulated institutions and market users at a senior level. Membership rotates to ensure a balance between consistency and new input.
In accordance with statute, the decision to appoint Mr Collins as Chairman of the Panel was made by the FSA and approved by HM Treasury.
Russell Collins headed up Deloitte's financial services industry from 2002 to 2011. He is a Vice Chairman of Deloitte in the UK and a member of the firm's global financial services management board. He is a Chartered Accountant.
The full membership of the Panel is now:
Russell Collins (Chairman) Partner, Deloitte LLP
Graham Beale Chief Executive, Nationwide Building Society
Joe Garner Head of UK Retail Bank & Deputy Chief Executive, HSBC Bank plc
Paul Geddes Chief Executive, RBS Insurance
Colin Grassie CEO, Deutsche Bank UK
Mark Harding Group General Counsel, Barclays Bank PLC
Simon Hogan Managing Director, Institutional Equity Division, Morgan Stanley
Garry Jones Group Executive Vice President & Head of Global Derivatives, NYSE Euronext
Guy Matthews Chief Executive, Sarasin Investment Funds
Helena Morrissey Chief Executive Officer, Newton Investment Management
John Pollock Group Executive Director, Protection & Annuities Legal & General
Andrew Ross Chief Executive, Cazenove Capital Management;
Malcolm Streatfield Chief Executive, Lighthouse Group
Paul Swann President & Chief Operating Officer, ICE Clear Europe
Doug Webb Chief Financial Officer, London Stock Exchange Group