Monday, 04 March 2019 10:48

Ex-Which? consumer champion joins FCA board 

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John Glen MP, Economic Secretary to the Treasury, has appointed consumer champion Richard Lloyd to the FCA board among a number of board appointments announced today.

Among the appointments:

  • consumer expert Richard Lloyd has been appointed as non-executive director
  • Sarah Hogg has been reappointed for a second term as non-executive director
  • Amelia Fletcher’s second term as non-executive director has been extended

Mr Lloyd has held senior roles in consumer organisations, including campaigning consumer group Which?, where he was executive director.

He recently conducted a review of the funding and running of the Financial Ombudsman Scheme which prompted FCA chairman Charles Randell to tell the Treasure Committee that change would be needed at the FOS.

He is also a founding trustee of the Money and Mental Health Policy Institute and is currently chair of Resolver, the consumer complaint resolution organisation. His three-year term will begin on 1 April.

Baroness Sarah Hogg has been re-appointed for a second three-year term, starting on 1 April 2019. She is a director of several listed companies including 3i, Carnival and GKN, and bodies including the BBC. She is the FCA’s senior independent director and sits as a cross-bencher in the House of Lords.

Amelia Fletcher’s second term as a non-executive director has also been extended for a further year, up to 31 March 2020.

She will also continue to serve as a non-executive director and senior independent director of the FCA’s sister Payment Systems Regulator during this period. She is Professor of competition policy at Norwich Business School and a non-executive director of the Competition and Markets Authority.

Mr Glen said: “Richard Lloyd’s wealth of experience as a consumer expert will be a valuable contribution to the crucial work of the FCA, ensuring our financial sector keeps customers at the heart of how firms do business.”

Charles Randell, FCA chairman, said: “Richard’s proven expertise and deep experience of both consumer issues and financial services mean he is ideally placed to further reinforce the FCA Board’s consideration of consumer needs. I know he will make a significant contribution and I look forward to working with him. I am also delighted that Sarah Hogg and Amelia Fletcher will continue to serve on the board.”

The Financial Conduct Authority is the conduct regulator for 58,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms.

Current FCA Board members are:

  • Andrew Bailey – executive FCA board member and chief executive
  • Catherine Bradley – non-executive FCA board member
  • Amelia Fletcher OBE – non-executive FCA board member
  • Baroness Hogg – non-executive FCA board member
  • Rt Hon Ruth Kelly – non-executive FCA board member
  • Jane Platt CBE – non-executive FCA board member
  • Charles Randell CBE – Chair of the FCA
  • Nick Stace – non-executive FCA board member
  • Sam Woods – non-executive FCA board member
  • Christopher Woolard – executive FCA board member and director of strategy and competition
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Last modified on Monday, 04 March 2019 15:56
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