Antonio Simoes, chief executive of HSBC in the UK, has been appointed chairman of the FCA practitioner panel.
He has been appointed by FCA chairman John Griffith-Jones to succeed Alison Brittain, former group director of retail at Lloyds Banking Group, who announced in May she was leaving the financial services sector to join Whitbread as group chief executive.
Mr Griffith-Jones said: “The practitioner panel plays a vital role in ensuring that the voice of industry is heard in the UK’s regulatory system.
“Antonio has served on the panel for the previous two years and appreciates how important the role of chairman is, so that the regulator and financial services industry can have a dialogue that is both challenging and constructive.”
Mr Simoes said: “My focus will be on fostering a constructive dialogue between the panel and both the executive and the board of the FCA.”
Background
Last year the FCA fined HSBC £216m for failing to control business practices in its G10 spot foreign exchange trading operations.
Last month the company was ordered to pay £28m for “organisational deficiencies” which allowed money laundering to take place in the bank’s Swiss subsidiary.
