View more on these topics

FSA appoints board chairman for FSCS

The Financial Services Authority has appointed Lawrence Churchill as the new chairman of the board of the Financial Services Compensation Scheme.

He will take up his appointment, lasting three years, on April 1 and will replace David Hall.

Churchill is currently chairman of the National Employers Savings Trust and was formerly chief executive of UK, Irish and International Life at Zurich Financial.  

Lord Turner, chairman of the FSA, says: “I am delighted Lawrence has agreed to serve as FSCS chairman. He will bring an invaluable set of skills and knowledge from his varied experience in the financial services sector over many years, which will only benefit the FSCS.”

He adds that Hall has made a significant contribution to the FSCS since being appointed chairman over six years ago, and that he wishes him well for the future.

Churchill says: “A huge increase in claims and compensation paid out in more recent years has created significant challenges for the FSCS, and has impacted on all of its stakeholders.

“I am grateful to David for his influence and contribution in steering the organisation to the levels of efficiency and responsiveness we see today.

“The FSCS will continue to play a vital role in providing confidence in the financial services sector this year and onwards.”

Hall adds: “I feel privileged to have been chairman of the FSCS since March 2006 and there have been many challenges in that time. I would like to thank all those who have been involved in taking the FSCS forward, including the board for their support and efforts during my chairmanship.

“I am confident Lawrence will benefit greatly from the ever growing support and contributions of everyone, as I am also sure that his experience and skills will prove invaluable to the FSCS.”


IMLA members expect hard conditions in 2012

The Intermediary Mortgage Lenders Association is expecting gross mortgage lending of no more than £130bn in 2012, some £3bn lower than the Council of Mortgage Lenders’ prediction. In December 2011 the CML downgraded its forecast for 2012 from £150bn to £133bn. Lenders have yet to reveal their figures for 2011, but gross lending is expected […]


Report lacks focus on elderly care, says MP

The Dilnot Commission report into the funding of care for the elderly does not focus enough on the quality of care older people receive, according to a Conservative MP. John Redwood, chair of the Conservative Party’s economic affairs committee, told BBC Radio 4’s Today programme last Tuesday that the report focuses too much on protecting […]


Loud & Clear

Brokers have welcomed moves in the FSA’s latest MMR paper to ban non-advised sales and demand greater clarity over lenders’ provision of advice to consumers


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Glen McKeown 9th January 2012 at 12:44 pm

    well isn’t that a nice cosy relationship – he’s obviously one of the boys, especially as he’s a chairman, as opposed to chairperson. And already part of the establishment, so no boat rocking here.