Callum McCarthy

Sir Callum McCarthy (born 29 Feb 1944) is the Chairman of the Financial Services Authority. He is married with three children. He attended Manchester Grammar School and is a graduate of 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. [ [http://www.fsa.gov.uk/pages/about/who/board/mccarthy.shtml Sir Callum McCarthy] ]

Career

McCarthy has held various high profile private sector and government regulatory positions. [ [http://news.bbc.co.uk/1/hi/business/7023531.stm Profile: Callum McCarthy and the FSA] ]
*1965 - On graduating in 1965 economics researcher at chemical corporation ICI for seven years,
*1972-85 - several posts at the Department for 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. [ [http://www.ginfo.pl/more/247354,MANDELSON,APPOINTS,FIRST,ENERGY,REGULATOR,FOR,GREAT,BRITAIN.html MANDELSON APPOINTS FIRST ENERGY REGULATOR FOR GREAT BRITAIN] ]
*1999 - Chief Executive of new energy super-regulator Ofgem
*2000 – Executive Chairman at Ofgem, where he oversaw the introduction of greater competition into the gas and electricity markets.
*September 2003 - Chairman of the Financial Services Authority (FSA)

Financial crime

"There is increasing evidence that organised 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. [ [http://www.fsa.gov.uk/pages/Library/Communication/Speeches/2005/1115_cm.shtml FSA Financial Crime Conference] ] cite news | first= | last= | coauthors= | title=Watchdog warns of criminal gangs inside banks | date= | publisher= | url =http://money.guardian.co.uk/news_/story/0,1456,1643860,00.html | work =The Guardian | pages = | accessdate = 2007-11-30 | language = ]

Other

*He is a keen beekeeper

References