FSA chairman retains post until 2004
Chancellor Gordon Brown today announced that the appointment of Howard Davies, chairman of the Financial Services Authority, has been extended until 31 January 2004.
Brown said: ‘At a time when the FSA has just taken on its full regulatory powers and is establishing itself as a fully independent single regulator it is invaluable to have Sir Howard remaining in post with his breadth of experience.’
Sir Howard, former deputy governor of the Bank of England became FSA chairman on 1 August 1997. He was due to step down on 31 July 2002.
The board of the FSA is appointed by the Treasury.