Ex-FSA chief Pain joins RBS as head of conduct

clock

Jon Pain, a former managing director and one-time interim chief executive of the Financial Services Authority (FSA), is to join state-owned Royal Bank of Scotland (RBS).

Pain, who joins from KPMG, will be head of conduct and regulatory affairs, a new position which RBS chief executive Stephen Hester said "sends a clear message" the bank is determined to clean up its reputation after becoming embroiled in a string of scandals. RBS was fined £390m for rigging the Libor inter-bank interest rate and has set aside about £3bn for payment protection insurance and interest rate swap mis-selling. Pain, the former managing director in charge of supervising banks and insurers at the FSA, left the City regulator in 2011 ahead of the coalition government's plan to...

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

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets

Open-ended structures 'have to work'

Valeria Martinez
clock 01 December 2023 • 2 min read
M&G launches full PruFund range on Wealth platform

M&G launches full PruFund range on Wealth platform

‘Greater flexibility and wider choice’

Valeria Martinez
clock 22 May 2023 • 1 min read
Brewin Dolphin attracts record fund inflows amid strong performance

Brewin Dolphin attracts record fund inflows amid strong performance

Wealth manager drew in £4bn of capital in the year to the end of September

Pedro Gonçalves
clock 24 November 2021 • 2 min read
Trustpilot