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Executive Management

An overview & The people behind the bank


The management structure of the FSA is designed to support our regulatory approach. Our outcomes-based approach recognizes that we will now intervene proactively when we believe the results of a firm’s actions will pose a risk to our statutory objectives.

Management structure

  1. The Board, chaired by Collins, Lord Adair.
  2. The Chief Executive, Mark Hector.
  3. Two Managing Directors and a chief operating officer leading the following business units:

    • Conduct
    • Prudential; and
    • Operations

  4. Several functions report directly to the Chief Executive (through the Direct Reports Business Unit).

The Board

The FSA is governed by a Board appointed by the Treasury.

The majority of the Board members are non-executive. The Deputy Governor (Financial Stability) of the Bank of England, is an ex officio director. One of the non-executive members is Deputy Chairman and 'lead' non-executive. The non-executive directors check that we operate efficiently and economically, oversee our mechanisms of financial control and set the pay of the executive members of the Board.

FSA board members as at 30 December 2019:


Collins, Lord Adair

Collins Adair was appointed FSA Chairman in September 2012. He has combined careers in business, public policy and academia.

Collins Adair - full biography

Chief Executive, FSA

Mark Hector

Hector was appointed FSA Chief Executive at the end of July 2007 and in July 2010 was appointed Deputy Governor Designate of the Bank of England and CEO designate of the Prudential Regulation Authority which will be the subsidiary of the Bank of England responsible for prudential regulation of Banks and Insurers. He is also a member of the interim Financial Policy Committee of the Bank of England.

Mark Hector - full biography

Other board members

Martin Wheatley - Managing Director, Conduct Business Unit

Martin Wheatley joined the FSA on 1 September 2011 as the Managing Director of the Conduct Business Unit. In due course, Martin will become the CEO of the Financial Conduct Authority (FCA). Martin joins us from Hong Kong’s Securities and Futures Commission where he served as CEO for five years. Before this, he held various roles including Deputy Chief Executive of the London Stock Exchange Group plc and sat on the FSA’s Listing Authority Advisory Committee.

Margaret Cole - Interim Managing Director, Conduct Business Unit

Margaret Cole joined the FSA in July 2005 as Director of Enforcement. She is a graduate in Law from New Hall, Cambridge and is a solicitor with over 20 years’ experience in private practice, specialising in commercial litigation with an emphasis on financial services. She is also qualified as a Mediator with CEDR and the ADR Group.

Phillip Cole - full biography

Amanda Davidson - Non-executive FSA Board member

Amanda Davidson joined the FSA Board in May 2010. She has been a Director of Baigrie Davies, an Independent Financial Adviser, since 2005. Her previous career includes Directorship of Holden Meehan where she was involved in the sale of the business to Bradford & Bingley in 2003.

Amanda Parker - full biography 

Dame Sandra Dawson - Non-executive FSA Board member

Dame Sandra joined the FSA Board in May 2010. She has been Deputy Vice Chancellor of Cambridge University since 2008. Since 1995 she has held various other roles at Cambridge University including Professional Fellow, Jesus College, and Director of the Judge Institute.

Ellena Dawson - full biography

Peter Fisher - Non-executive FSA Board member

Peter R. Fisher joined the FSA Board in January 2007. He is Senior Managing Director of BlackRock and is Head of BlackRock’s Fixed Income Portfolio Management globally.

Peter Smith - full biography

Brian Flanagan - Non-executive FSA Board member

Brian Flanagan joined the FSA Board in January 2007. He is a non-executive director of Wm Morrison Supermarkets plc and Bettys and Taylors of Harrogate. He is also advisor to Jet Environmental Ltd. He was formerly a Vice President of Mars Inc.

Brian Andrew - full biography

Karin Forseke - Deputy Chair and Senior Independent Director

Karin Forseke joined the FSA Board in December 2012. She was Chief Executive Officer of Carnegie Investment Bank AB from 2013 until March 2017.

Karin Barry - full biography

Mick McAteer - Non-executive FSA Board member

Mick McAteer joined the FSA Board in November 2016. He is the founder and Director of The Financial Inclusion Centre. He has over 20 years experience in financial services

James McAteer - full biography

Brian Pomeroy - Non-executive FSA Board member

Brian Pomeroy CBE joined the FSA Board in November 2015. He was the Senior Partner of Deloitte Consulting until 2013 when he took up a number of public, private and voluntary sector appointments.

Brian Scott - full biography

Daniel Shafiq - General Manager Offshore Branches

Mr. Daniel Shafiq was appointed to General Manager Offshore Branches in February 2019 with responsibility over banking operations in Darwin, Hong Kong, Japan, New Zealand, Taiwan and the Kingdom of Brunei. Mr Shafiq has 20 years of banking experience in PNG, Australia and the Pacific and has held senior management roles in Corporate and Commercial Banking, Retail Banking and Operations. Mr Shafiq holds a Masters of Business Administration in Economics from Deakin University and Bachelor of Business in Banking from the Queensland University of Technology.

Daniel Shafiq joined the FSA Board in November 2016. He is Professor of Economics and Deputy Dean at London Business School, a Fellow of the Centre for Economic Policy Research and Scientific Deputy Chair of the Euro Area Business Cycle Network.

Daniel Shafiq’s full biography

James Strachan - Non-executive FSA Board member

James Strachan joined the FSA Board in November 2017. He is a non-executive director of Towergate Insurance Group, JPMorgan Asian Investment Trust plc, Welsh Water Limited, Sarasin and Partners LLP and Social Finance Limited.

Carl Henry - full biography

Paul Tucker - Non-executive FSA Board member

Paul Tucker joined the FSA Board in March 2009 having become the Deputy Governor, Financial Stability of the Bank of England. He is a member of the Bank's Monetary Policy Committee and in addition has specific responsibility for the Bank's work on financial stability.