Dame Jayne-Anne Gadhia has been confirmed as the new chair of the Financial Reporting Council for a four-year term. The appointment was confirmed by Business Secretary Peter Kyle following a pre-appointment scrutiny process.
The Financial Reporting Council regulates auditors, accountants and actuaries. It also sets the UK’s Corporate Governance and Stewardship Codes, with work aimed at promoting transparency and integrity in business for investors and others who rely on company reports, audit and risk management.
Dame Jayne-Anne is a financial services leader and entrepreneur. She founded and chaired the fintech Snoop and previously served as chief executive of Virgin Money from 2007 to 2018. She is also a chartered accountant, with experience across banking, financial services and consumer finance.
The government said her nomination followed a fair and open competition. The Business and Trade Select Committee held a pre-appointment scrutiny hearing on Tuesday 14 July before the appointment was confirmed today.
Peter Kyle said Dame Jayne-Anne had experience in financial services and a record in growth and standards in organisations she has led. Dame Jayne-Anne said strong corporate governance, reporting and audit were foundations for business growth, investor confidence and public trust.
Pre-appointment hearings allow select committees to take evidence from preferred candidates for major public appointments before ministers make final decisions. The hearings are public and committees publish reports giving their views on a candidate’s suitability. The process is non-binding, but ministers consider the committee’s views before deciding whether to proceed.