Adair Turner appointed FSA chairman

by Gill Montia

Story link: Adair Turner appointed FSA chairman

The Financial Services Authority (FSA) has appointed a new chairman.

Adair Turner, a former director general of the CBI, has been appointed by the Treasury for a five year term and will take over from Sir Callum McCarthy in September of this year.

Mr Turner currently heads a Government committee on climate change but will be relinquishing the post next year. He also holds directorships at Standard Chartered bank and United Business Media.

The appointment, which was widely expected, comes at what is regarded as a critical time for the FSA, which has undergone a period of rigorous self examination over the Northern Rock debacle and other issues connected to the credit crisis.

Outgoing chairman, Sir Callum McCarthy, joined the FSA in 2003 and is widely credited with having developed the Authority into a regulator that has gained worldwide respect.