THE OUTGOING chairman of Lloyds Banking Group has been picked to chair the Financial Reporting Council (FRC), the accounting regulator said yesterday.
Sir Win Bischoff, who retires from Lloyds in April, will replace Baroness Hogg at the FRC on 1 May. He was chosen for the job after an eight-month search for Hogg’s replacement, conducted by headhunting firm JCA Group.
“His excellent understanding of capital markets, and the needs of investors, together with his record of working with regulators and government departments will ensure the FRC continues to provide leadership to the development of corporate reporting and governance in the UK and globally,” said FRC chief executive Stephen Haddrill in a statement yesterday.
Bischoff’s appointment was approved by the Department for Business, Innovation and Skills.