Where did Sir Callum go?

A recent bit of news has been little reported in August, but it is a fact that has been picked up by satirical journals such as Private Eye.

 

The fact: Sir Callum McCarthy is leaving the Financial Services Authority having been its Chairman since 2003. He’s off to pastures anew and handing over his mantle to Lord Adair Turner, trusted ally of Gordon Brown. Lord Turner was otherwise known as “Red Adair” when he was the former Director-General of the CBI, and the real Red Adair was a renowned fire-fighter … skills that the new Chairman will be in desperate need.

 

Meanwhile, where’s Sir Callum going?

 

The Treasury.

 

In an ‘open competition’ for these new roles at the Treasury, a hard-fought fight saw Sir Callum and Deidre Hutton, former Deputy Chair of the FSA, become non-executive members of the Board of the Treasury.

Nice to see such a genuine search for talent resulted in the right people being placed in these roles.

As Private Eye says: “McCarthy is stepping down from the financial regulator and chancellor Alistair Darling has found the perfect new job for him: as a non-executive director of the Treasury itself. Having been in charge of regulation when Northern Rock imploded, he can now be first on the scene when the entire economy collapses.”

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[mastermindmk7]

'Masters of the Universe'?

We are doomed!