Callum McCarthy
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Sir Callum McCarthy (born 29 Feb 1944) is the former Chairman of the Financial Services Authority.
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[edit] Biography
McCarthy attended Manchester Grammar School, then graduated from the University of Oxford. He also has a PhD in economics from Stirling University and an MS from the Graduate School of Business at Stanford University, where he was a Sloan Fellow.[1]
[edit] Career
McCarthy has held various high profile private sector and government regulatory positions.[2]
- 1965 - Economics researcher at chemical corporation ICI for seven years on graduating in 1965.
- 1972-85 - Several posts at the Department of Trade and Industry including Principal Private Secretary to Roy Hattersley when he was Secretary of State for Prices and Consumer Protection and to Norman Tebbit when he was Secretary of State for Trade and Industry.
- 1985 - Director of Corporate Finance at investment bank Kleinwort Benson
- 1989 - Managing Director and Deputy Head of Corporate Finance of Barclays' investment banking arm, BZW. McCarthy later become Chief Executive Officer of Barclays Bank group operations in Japan before moving to head the Bank's businesses in North America.
- September 1998 – Appointed by Peter Mandelson to become Director-General of the gas regulator Ofgas.[3]
- 1999 - Chief Executive of new energy super-regulator Ofgem, where he oversaw the introduction of greater competition into the gas and electricity markets[citation needed]
- September 2003 - Chairman of the Financial Services Authority (FSA)
- October 2008 - Non-executive board member of HM Treasury
- Current - Non-executive Chairman of Castle Trust (see - http://www.castletrust.co.uk/about-us/who-we-are)
[edit] Personal life
Married with three children, he is a keen beekeeper
[edit] Quotation
| “ | There is increasing evidence that organized criminal groups are placing their own people in financial services firms...They can increase their knowledge of firms' systems and controls and thus learn how to circumvent them to commit their frauds | ” |
McCarthy at FSA Financial Crime Conference in 2005.[4][5]
[edit] References
- ^ Sir Callum McCarthy
- ^ Profile: Callum McCarthy and the FSA
- ^ MANDELSON APPOINTS FIRST ENERGY REGULATOR FOR GREAT BRITAIN
- ^ FSA Financial Crime Conference
- ^ "Watchdog warns of criminal gangs inside banks". The Guardian (London). 2005-11-16. http://money.guardian.co.uk/news_/story/0,1456,1643860,00.html. Retrieved 2007-11-30.
