Imran Gulamhuseinwala has been appointed as the new
Implementation Trustee for the CMA’s Open
Banking remedies.
Mr Gulamhuseinwala, who was awarded an OBE in the New Year’s
Honours list for his contribution to the financial services
sector, is a London-based Partner for EY and leads its Global
FinTech practice. He will be seconded from EY to Open Banking.
He will head Open Banking, the organisation that the major banks
were ordered to create and fund by the Competition and Markets
Authority (CMA) to develop the common technical standards
underpinning open banking.
Mr Gulamhuseinwala, who was nominated for the role by the CMA,
replaces Andrew Pinder who sadly passed away earlier this week
after stepping down from the role.
Alasdair Smith, who chaired the CMA’s market investigation into
retail banking that led to the Open Banking remedy, paid tribute
to Andrew Pinder’s achievements and welcomed Imran
Gulamhuseinwala on board. He said:
It is very sad news to hear about Andrew, who had done a great
job in successfully steering the project through its very
challenging first phase and getting it off to a strong start.
We now wish Imran well as he leads the project into the next
phase, which will transform retail banking in Britain and bring
substantial benefits to consumers and the economy.
Notes for editors
Imran has worked in financial services for 18 years. He joined EY
in 2014 and now leads its dedicated FinTech practice globally. He
spent 8 years investing in the sector, and is also the co-founder
of CommuterClub, a FinTech 50 start-up which helps commuters to
access savings for annual travel season tickets. At EY, Imran has
worked closely with government, regulators and industry bodies to
drive the FinTech agenda, leading studies for both UK Trade &
Investment and HM Treasury to
measure the size and growth of the FinTech sector in the UK and
develop a strategy for future growth. Imran has a Masters in
Engineering from Cambridge University and is a CFA charter
holder.
