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KPMG's Griffith-Jones appointed FCA chairman
by Daniel Grote on Jun 11, 2012 at 09:15
KPMG chairman John Griffith-Jones has been appointed non-executive chair designate of the Financial Conduct Authority (FCA), the body that will replace the Financial Services Authority (FSA).
Griffith-Jones (pictured) will join the FSA board on 1 September as a non-executive director and deputy chair. The Treasury said he would work with FCA chief executive-designate Martin Wheatley to oversee the creation of the new regulator.
Adair Turner will remain FSA executive chairman until the move to the new regulatory structure has been completed.
Financial secretary to the Treasury Mark Hoban said Griffith-Jones would play a key role in financial services regulation. 'He understands the challenges facing the financial services sector and this, together with his experience in both chairman and CEO roles, will be very valuable as we move towards the creation of the FCA.'
Griffith-Jones said he wanted to help rebuild consumers' trust in financial services in his new role. 'Having worked in the financial world throughout my professional career, I know how important it is that consumers, investors and businesses have trust in the integrity of the UK's financial services industry and markets,' he said.
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