FSA director to join Deloitte

THE MAN tasked with breaking up the Financial Services Authority (FSA) has been poached by Big Four accounting firm Deloitte.

David Strachan, currently financial stability director at the FSA, will move to the accounting giant in April next year.

He is part of the team deciding on how to divide the FSA as part of a government shake-up of financial regulation.

Strachan also represented the FSA on the Basel Committee, and worked along side chairman Adair Turner on the Turner Review into banking regulation. He also brings with him 13 years experience with the Bank of England where he worked on both banking supervision and market operations.

Strachan will co-head Deloitte’s centre for regulatory strategy. William Higgins, head of Deloitte’s risk and regulation practice, said said Strachan was a fantastic asset.

“David will lead the centre which aims to engage in debate on financial regulation and support our clients through this period of unprecedented change,” he said.

Clifford Smout, who is co-head of the centre, said Strachan would bring a wealth of knowledge and experience from within the financial services community.

“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,” he said.

“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.”

Strachan said he was pleased to join 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,” he said.