Lord Turner of Ecchinswell, the former CBI director-general, was confirmed yesterday as chairman of the Financial Services Authority (FSA).

He will take the FSA reins for a five-year term from September, when Sir Callum McCarthy steps down.

Turner is a trusted adviser to Prime Minister Gordon Brown and the government, having undertaken high-profile roles since leaving the CBI nine years ago.

During his time at the CBI, Lord Turner consolidated a reputation for intellectual rigour, gained from his previous career at the McKinsey management consultancy, with a desire to give capitalism a human face, The Times reports.

These attributes attracted him to the Labour Government as one of their favourite advisers, commission chairmen and review conductors when he left the CBI after a four-year term.

Further reading:

Former Downing St adviser likely to head FSA

Read The Times story