KPMG recuits former FSA board member

THE FINANCIAL SERVICES AUTHORITY'S (FSA) former managing director of supervision Jon Pain joins KPMG as a partner.

He started at the FSA in 2008 and is expected to begin at the firm in July, working in its Financial Services division.

At the regulator Pain was the senior manager responsible for supervising the UK's banks, insurance group's and other financial service organisations such as mortgage brokers. He sat on the FSA board and was previously chairman of the Council of Mortgage lenders for two years in 2006.

Prior to his role at the government body, Pain was managing director of Cheltenham & Gloucester and spent more than 25 years at Lloyds Banking in a variety of senior roles.

Bill Michael, UK head of financial services at KPMG, said: "We are delighted to have someone of Jon's experience and calibre joining our practice.

"As a senior figure at the FSA who has been deeply involved with major regulatory changes and innovations, and through his various industry roles including MD of Cheltenham & Gloucester, he has acquired a truly extensive knowledge of the financial services regulatory landscape - from both sides of the fence. "