Dame Jayne-Anne Gadhia has been announced by the Business
Secretary as the government's preferred candidate to become Chair
of the Financial Reporting Council for the next four years.
The Financial Reporting Council (FRC) regulates auditors,
accountants and actuaries, and sets the UK's Corporate Governance
and Stewardship Codes. It promotes transparency and integrity in
business and aims its work at investors and others who rely on
company reports, audit and high-quality risk management.
Dame Jayne-Anne is a highly experienced financial services leader
and entrepreneur, having founded and chaired the fintech Snoop
and previously served as Chief Executive of Virgin Money from
2007 to 2018. A Chartered Accountant, she brings decades of
experience across banking, financial services, and consumer
finance, as well as a strong track record of championing
diversity in the sector.
Dame Jayne-Anne's nomination follows a fair and open competition.
The Business and Trade Select Committee will hold a
pre-appointment scrutiny hearing, scheduled for 14 July, and
report on her suitability for the post. Subject to that report,
the Business Secretary will confirm the appointment.
Business Secretary said:
Dame Jayne-Anne Gadhia has a proven track record in driving
growth and championing high standards in the organisations she
leads, along with exceptional experience in financial
services.
She is perfectly placed to lead the FRC at this important time
and I look forward to working with her to boost confidence in
British businesses.
Dame Jayne-Anne Gadhia said:
I am honoured to be appointed Chair of the FRC at such an
important time for the organisation and for the UK economy.
Strong corporate governance, high-quality reporting and trusted
audit are not abstract regulatory goals they are the foundations
on which businesses grow, investors commit capital and public
confidence is maintained.
The FRC has done impressive work in recent years to raise
standards and modernise how it regulates and I look forward to
working with Richard and the whole team to build on that
progress.
Notes to Editors:
-
Pre-appointment hearings enable select committees to take
evidence from preferred candidates for major public
appointments before they are appointed.
-
Hearings are in public and involve the select committee
publishing a report setting out their views on the
candidate's suitability for the post.
-
Pre-appointment hearings are non-binding, but ministers will
consider the committee's views before deciding whether
toproceedwith an appointment.
