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Lord Turner tipped for top job at FSA
Tuesday 27th May 2008, 11:19AM BST.
Lord Adair Turner is just days away from being named as the new chairman of the Financial Services Authority (FSA).
Lord Turner, the former head of the Confederation of British Industry and the man tasked with designing the government’s new National Pensions Savings Scheme (NPSS) three years ago, is currently heading the government’s climate change committee and it is believed he wants to maintain this role.
This has prompted some concerns about whether Lord Turner, who also holds a number of directorships in the City, would have the time to carry out the three day a week role.
The move would however end the search for Sir Callum McCarthy’s successor when he steps down as chairman in September.
Pressure has mounted on the City watchdog and the government to find a suitable replacement for the outgoing chairman following the FSA’s mishandling of the Northern Rock crisis.
Other potential candidates for the role include the firmer head of Halifax Bank of Scotland, Sir James Crosby, Merrill Lynch Europe chairman Bob Wigley and the cabinet secretary Sir Gus O’Donnell. The Treasury however is declining to comment on speculation over the appointment.
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