New Chair for the Board for Actuarial Standards
The Financial Reporting Council (FRC) has appointed Jim Sutcliffe, FIA, as the next chair of the Board for Actuarial Standards (BAS) and a director of the FRC. The appointment follows the decision earlier this year by Paul Seymour, who has served since the end of November 2005, to stand down as chair of the BAS. Sutcliffe will take over in mid-June 2009.
Sutcliffe has had a 30 year career in international commercial and general management in the insurance and asset management industries. He became a fellow of the Institute of Actuaries in 1979. From 1976 to 1997, he worked at Prudential, and was chief executive of Prudential UK from 1995 to 1997. He was deputy chairman of Liberty International, a shopping centre owner and developer in the UK, in 1998-1999. He joined Old Mutual, a multi-national financial services company with businesses operating in Europe, South Africa, US and Asia, in 2000 and was group CEO from 2001 to 2008. He is currently a non-executive Director of Lonmin and of Sun Life Financial.