One of the directors who helped design the twin peaks regulation of the PRA and FCA is to become the new director-general of the CBI.
According to a statement from the organisation, Carolyn Fairbairn will take up her role at the UK’s biggest business group in November, after current incumbent John Cridland steps down.
Ms Fairbairn had joined the then FSA at a critical time. Between 2008 and 2011, she was a non-executive director of the FSA following the collapse of Northern Rock.
She had been involved in overhauling its regulatory processes and restructuring it into two new regulators, the PRA and the FCA.
Ms Fairbairn plans to step down from all her current non-executive directorships when she takes up her role at the CBI, apart from remaining a trustee of the charity Marie Curie.
Her career began as an economist at the World Bank, before she joined the Economist magazine as a journalist and then spent six years as a management consultant at McKinsey & Company.
She had also been a member of Number 10’s Policy Unit, advising on health and social services (1995-1997). She joined the BBC in 1997 and was responsible for strategic planning for its commercial arm, BBC Worldwide, before going on to lead the BBC’s digital growth strategy, including the launch of Freeview.
According to the CBI’s statement, Ms Fairbairn will work closely with CBI president-designate Paul Drechsler in ensuring the interests of British businesses of all sizes across the UK are represented in Whitehall, Brussels and internationally.
CBI president Sir Mike Rake said: “She is a remarkable business leader with an impressive background as an economist, journalist, management consultant and policy strategist. This includes being a member of the Prime Minister’s Downing Street Policy Unit and holding senior roles at the BBC and ITV.
“Her CV speaks for itself. Her wealth and breadth of experience will be critical in steering the CBI through choppy political and economic waters, including an EU referendum.”