Spence’s key role at FSA subsidiary

JOHN Spence, a former senior executive of Lloyds TSB Scotland, has been appointed by the Financial Services Authority as a non‑executive director on the board of the regulator’s consumer Money Advice Service.

Spence is finance chairman of Business in the Community and a former chairman of the British Bankers’ Association’s retail banking committee.

FSA chairman Lord Turner said Spence brought “extensive experience from the banking sector” that would greatly benefit the Money Advice Service. He will take up the role in January.