Nationwide chief to take lead post advising new watchdog

Tim Wallace
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THE CITY’S new behaviour watchdog hired three more industry bosses to give it advice on how to police finance culture yesterday.

Nationwide chief executive Graham Beale will chair the Financial Conduct Authority’s (FCA) practitioner panel, representing building societies and giving input to policy decisions.

Weatherbys Bank’s chief operating officer Andrew Turberville Smith will head up the smaller business practitioner panel.

And ICE Clear Europe’s president Paul Swann will chair the markets practitioner panel.

The three new hires join Alison Brittain, group retail boss at Lloyds, and Schroders’ chief Michael Dobson who were appointed earlier this year. The FCA is one of two successors to the Financial Services Authority, which will be split in two.

Its head Martin Wheatley has said he hopes to adopt a more forward looking approach to finance regulation, spotting problems with behaviour or products before they arise. The industry committees are a part of this setup, getting guidance on new policies from leaders in varying sectors of the financial services industry.