FSA recruits two new senior advisers to boost banking and risk departments

CITY watchdog the Financial Services Authority (FSA) yesterday appointed two new senior advisers to strengthen its investment banking and risk management expertise.

Simon Prior-Palmer, who will advise on investment banking issues, has more than 30 years’ experience, including as managing director of Credit Suisse’s UK investment banking division.

Robert Stansbury, who will advise on risk management, has been a consultant on risk governance to financial services companies since 1993. Before that he was a director at former merchant bank Hill Samuel.

FSA chief executive Hector Sants said Prior-Palmer and Stansbury both had “considerable experience to bring to bear on the regulatory changes and issues we face.”

Before working at Credit Suisse, Prior-Palmer was a vice president at JP Morgan and spent four years at the postal industry regulator Postcomm as a board commissioner from 2006. He is currently a non-executive director of Toronto-listed mining house Gabriel Resources.

The FSA currently employs about nine part-time senior advisers to bring specific industry expertise and external knowledge.

“Senior advisers are a core part of the FSA’s delivery of intensive supervision. The team provides experience on regulatory, market and consumer matters,” Sants said.