Adair Turner has spent more than £66,000 in the past 15 months flying around the world as FSA chairman - largely because he never flys any lower than business class.
Closer scrutiny of Turner's expenses bill reveals that, since June 2010, he has travelled to America, Germany, Switzerland, Japan and China, spending more than £4,500 per month, writes the Daily Telegraph. An unnamed source told the newspaper the chairman needed to travel outside economy class to allow him to rest and read confidential papers. In most instances, FSA executives are banned from travelling in anything but economy class, but it has made an exemption for Turner, who is also the government's chief climate change adviser. The FSA chief executive Hector Sants, by compariso...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes