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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