By Mark Kleinman, City Editor
Nationwide, Britain's biggest mutually-owned lender, has raided the City watchdog to appoint its first compliance chief, the latest example of gamekeeper-turned-poacher in the banking sector.
Sky News understands that Nationwide has hired Julia Dunn, a senior executive at the Financial Conduct Authority (FCA), as its chief compliance officer amid intense scrutiny by regulators on the behaviour of the country's biggest lenders.
Ms Dunn, who will take up her new role in September, is the latest FCA executive to quit for a role in the private sector, dealing a blow to the FCA's efforts to sustain its crackdown on egregious behaviour by the big banks.
Among her responsibilities at the watchdog was dealing with building societies' conduct-related issues.
Last week, Sky News revealed that Christina Sinclair, the FCA's acting retail director and a stalwart of its predecessor body, the Financial Services Authority (FSA), had resigned to join Barclays.
Her move will reunite her with Sir Hector Sants, the former FSA chief executive, who now heads compliance and regulatory relations at Barclays.
Other major UK banks, including Lloyds Banking Group, have poached senior executives from central banks and regulators as they attempt to overhaul their culture under strong pressure from politicians.
Ms Dunn's departure comes at a testing time for Nationwide's relationship with the new City regulators. Last week, the building society said it had reached agreement with the Prudential Regulation Authority (PRA - which supervises risks in the financial system - over the timetable for complying with a measure dictating the scale of borrowing on its balance sheet.
"Nationwide has previously indicated its intention to issue Core Capital Deferred Shares (CCDS)," it said in a statement last week.
"This new capital instrument is designed for mutual building societies and will enable Nationwide to raise common equity tier one capital to supplement retained earnings and to diversify its capital base.
"It remains the Society's intention to establish and access this form of capital during the current or next financial year. Any such capital issuance remains at the discretion of the Nationwide Board and will have the effect of enhancing the ratios and timetable set out above."
Nationwide stressed its commitment to remaining a mutually-owned building society and serving its 15 million members "including [through] ongoing support of the housing market through the provision of mortgages and at the same time diversifying and strengthening its capital base".
Anda sedang membaca artikel tentang
Nationwide Raids Watchdog For Compliance Boss
Dengan url
http://cembururabun.blogspot.com/2013/07/nationwide-raids-watchdog-for.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Nationwide Raids Watchdog For Compliance Boss
namun jangan lupa untuk meletakkan link
Nationwide Raids Watchdog For Compliance Boss
sebagai sumbernya
0 komentar:
Posting Komentar