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FSA Director of Financial Stability David Strachan to join Deloitte

8 November 2010

Deloitte is pleased to announce that David Strachan, currently Director of Financial Stability at the FSA, is to join the firm as co-head of the Deloitte Centre for Regulatory Strategy in April 2011.

David is currently working on the division of the FSA into the Prudential Regulatory Authority and the Consumer Protection and Markets Authority.

During his 12 years at the FSA David has spent four years as the UK’s FSA representative on the Basel Committee, worked with Adair Turner to produce the Turner Report, and led the implementation of the Tiner Review of regulation within the UK insurance industry. Prior to joining the FSA David spent 13 years with the Bank of England working in both banking supervision and the market operations areas.

William Higgins, head of Deloitte’s risk and regulation practice, commented: “We are absolutely delighted that David will join the Deloitte Centre for Regulatory Strategy. David is very highly regarded in the market and is a fantastic asset for our risk and regulation practice. Together with Clifford Smout, David will lead the Centre which aims to engage in debate on financial regulation and support our clients through this period of unprecedented change.”

Clifford Smout, co-head of the Deloitte Centre for Regulatory Strategy, commented: “David brings with him a wealth of knowledge and experience within financial services. He has worked at the forefront of UK regulation for a long period, for instance in his current role overseeing the formation of the future UK regulatory set-up. Having worked with David at the Bank of England, I look forward to joining him again as we lead the Deloitte Centre for Regulatory Strategy.”

David Strachan commented: “I am very pleased to be joining Deloitte at this time of far-reaching change for the global financial services industry. This is a tremendous opportunity for me to work with Clifford Smout and his colleagues to develop the Centre for Regulatory Strategy into a leading force in this area.”

The Deloitte Centre for Regulatory Strategy comprises experts from across Deloitte’s European network. The Centre analyses the implications of regulation for the strategic direction and business models of financial services firms and helps clients develop the most effective approaches to meeting these challenges.

-Ends-

Notes for editors

Clifford Smout, co-head of the Deloitte Centre for Regulatory Strategy joined Deloitte in 2006 following almost 30 years at the Bank of England where his roles included finance director and head of policy in banking supervision. He also served for five years on the Basel Committee on Banking Supervision, chairing its sub-group on market risk.

About Deloitte

In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms. Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu (‘DTT’), a Swiss Verein, whose member firms are legally separate and independent entities. 

Please see www.deloitte.co.uk\about for a detailed description of the legal structure of DTT and its member firms. The information contained in this press release is correct at the time of going to press.

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