Special advisor appointed to Deloitte from BofE

Today Deloitte has announced the appointment of a new special advisor for the Big Four firm.

Andrew Gracie is joining the accountancy firm from the Bank of England (BoE), where he worked as an executive director and chaired the Financial Stability Board’s working group on resolution. His role will have a focus on providing support for clients in the areas within resolution preparedness. For example, recovery and resilience planning.

In response to his appointment, Andrew Gracie said: “Resolution planning is a hugely important manner on the global financial services agenda, and the industry is taking planning very seriously. As they work towards the BoE’s goal to make all banks resolvable by 2022, there is opportunity now to demonstrate plans transitioning into action.”

Deloitte’s statement said: “During a career which has overseen vast regulatory change, he has been at the forefront of introducing new domestic and international resolvability standards.”

Julian Leake, partner and head of Deloitte’s financial services risk advisory practice, concluded: “10 years on from the financial crisis, recovery and resolution of banks remain high on the priority of clients and regulators. With over 30 years’ experience in financial stability and banking supervision, Andrew is recognised for spearheading strategic change and improvement in banking. He brings a wealth of expertise to our existing resolution practice, and this experience will enhance the work we are already conducting with clients as they meet both regulatory and public interests.

“There remains more to do on resolvability internationally and to meet the BoE’s objective to ensure systemic UK banks will be resolvable by 2022. Deloitte are delighted that Andrew will be working with us to enable our clients to benefit from his expertise and experience and support them through their resolution planning.”