New UK Finance Lobby Gets Its First Leader
UK Finance, the new trade lobby being established for banks and consumer lenders, has recruited a former Barclays and Schroders executive who rose to become the chief financial officer of Santander UK, as its inaugural CEO.
Stephen Jones, who is currently advising the US investment fund Cerberus Capital and sits on the board of several of its finance sector portfolio companies, will take up his new role in the coming weeks, ahead of the organisation’s formal launch in July.
UK Finance is currently being formed from a merger of the British Bankers’ Association, the Asset Based Finance Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. It has secured premises at Angel Court in the City of London.
In a statement today, April 24, the embryonic lobby group’s new chairman, Bob Wigley, cited Jones’ broad experience across the sector as key to developing UK Finance into a “world class” organisation.
Jones spent 15 years at Schroders until 2002, working in the asset manager’s former banking division in corporate client advisory roles. He then left for Barclays and stayed until 2011, rising to become head of investor relations.
He was financial chief for Santander’s UK business from 2012 until October 2015, and during this period also served on the Financial Conduct Authority’s practitioners’ panel, as well as the advisory boards for TheCityUK and the British Bankers’ Association.
His recruitment ensures bankers will have an experienced exec who knows his way around the lobbying circuit at the helm of their new group, in the wake of the departure of Anthony Browne, the current chief executive of the British Bankers’ Association.
Jones’ role is also complemented by that of Wigley, who was appointed chairman in March. He was chairman of Merrill Lynch in Europe between 2003 and 2009.
In today’s statement, Jones said he was “excited to be joining at this formative time”, and promised to “serve our members by helping them build a more customer-focused and innovative finance and banking sector for the benefit of the UK economy as a whole”.
Source: By Mark Cobley / Financial News
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