Crack open the ring-binders: it’s enforcement time! Barely a week after the dust has settled on Adair Turner’s employment contract, the FSA has hired a trio of people who actually know something about markets:
The Financial Services Authority (FSA) today announced the appointment of three new senior advisors with substantial market experience. Jeremy Bennett, David Smith and Simon Stockwell will join the wholesale and institutional business unit with immediate effect.
Jeremy Bennett, a former co-head of fixed income for Europe and emerging markets at Credit Suisse First Boston, has over twenty years of experience in banking, with a particularly strong background in structured products and derivatives, and bank control infrastructure.
Simon Stockwell, a former head of the European corporate advisory business at Lehman Brothers, also has an extensive background in market compliance and surveillance.
David Smith was Senior Partner in charge of KPMG Forensic Accounting in the UK based in London. He had previously been the partner in charge of several KPMG Middle East offices and dealt with major audit clients in the oil and gas, banking and insurance industries as well as leading major financial investigations.
Too bad that they were probably most needed eighteen months ago. But then, eighteen months ago, working for a bank like Lehman brothers was a good thing.
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