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KPMG boss takes chair at watchdog
The outgoing chairman of KPMG’s operations in the UK has been named as head of the Financial Conduct Authority (FCA), the new market watchdog that comes into force next year.
John Griffith-Jones, who has been with the “big four” accounting firm since 1975, is due to retire in August.
In preparation for becoming chairman of the FCA, he will join the Financial Services Authority (FSA) board in September as a non-executive director and deputy chair.
He will work with Martin Wheatley, who was appointed chief executive designate of the FCA last year, to oversee the creation of the new authority. The FSA is being scrapped as part of reforms of the supervision of banks and markets. It is being replaced by the FCA and the Prudential Regulation Authority (PRA), which will be responsible for financial stability.
Current FSA boss Adair Turner will remain at the regulator until its transition into the FCA and PRA is complete.
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Sunday 19 May 2013
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