UK Chancellor Announces New Chairman for the Financial Services Authority

The UK’s Chancellor of the Exchequer, Alistair Darling, has announced the appointment of Lord Adair Turner as chairman of the Financial Services Authority (FSA) for a period of five years. Lord Turner will take up his appointment in September when Sir Callum McCarthy steps down. The Chancellor commented: “I am delighted to appoint Adair Turner as chairman of the FSA. His wide-ranging expertise will be invaluable in driving forward the FSA’s objectives to maintain confidence in the financial system, promote public understanding of it, protect consumers and reduce financial crime. I look forward to working with him.” Jonathan Adair Turner, Baron Turner of Ecchinswell, is a UK businessman, academic, and currently is chairman to the Economic and Social Research Council. He is also currently a non-executive director for business groups including Standard Chartered, Siemens and Paternoster. He is a former chair of the Low Pay Commission and Pensions Commission, former Director-General of the Confederation of British Industry (CBI), a former vice chairman of Merrill Lynch Europe, and a former advisor to Climate Change Capital. Lord Turner said: “I am delighted to be taking over from Callum McCarthy at the FSA, and look forward to leading the Authority as it meets the challenges ahead.”

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