The Financial Services Authority (FSA) appointed three new senior advisors with substantial market experience.
Jeremy Bennett, David Smith and Simon Stockwell will join the wholesale and institutional business unit with immediate effect.
Jeremy Bennett, a former co-head of fixed income for Europe and emerging markets at Credit Suisse First Boston, has over twenty years of experience in banking, with a particularly strong background in structured products and derivatives, and bank control infrastructure.
Simon Stockwell, a former head of the European corporate advisory business at Lehman Brothers, also has an extensive background in market compliance and surveillance.
David Smith was senior partner in charge of KPMG Forensic Accounting in the UK based in London. He had previously been the partner in charge of several KPMG Middle East offices and dealt with major audit clients in the oil and gas, banking and insurance industries as well as leading major financial investigations.
“As with all our senior advisors, they will fulfil a critical role in providing authoritative views and comment on industry developments. These appointments further underline the FSAs commitment to having the right mix of people with market experience and regulatory backgrounds in the organisation,” says Sally Dewar, managing director of wholesale and institutional markets, FSA.
David Smith was senior partner in charge of KPMG Forensic Accounting in the UK based in London. He had previously been the partner in charge of several KPMG Middle East offices and dealt with major audit clients in the oil and gas, banking and insurance industries as well as leading major financial investigations.
He has more than 20 years forensic accounting and litigation support experience acting for government bodies, banks and corporate clients throughout Europe, the Middle East, Asia and off-shore jurisdictions and the Americas in relation to fraud, asset tracing, money laundering, corporate governance issues and other regulatory matters. He carried out important regulatory reviews on behalf of the Bank of England under Section 39 and lead investigations for the FSA, dealing with fit and proper conduct, AML, KYC and other issues. Since retiring from KPMG in 2003 he has worked on a major compliance issue for a global bank and in 2007 assisted the start up of a US forensic firm in London.
Jeremy Bennett has over twenty years of experience in banking, with a particularly strong background in structured products and derivatives, and bank control infrastructure. At Credit Suisse First Boston (CSFB) from 1999- 2007, Bennett started as managing director of Emerging Markets structuring and marketing, before moving to be regional head of Emerging Markets for Asia Pacific. From 2001, Bennett held several senior roles at CSFB, including co-head of Fixed Income for Europe and the Emerging Markets, global head of Structuring, chairman of Boston Re and head of the Life Insurance Group. He was a member of the Global Securities Operating Committee and served on the board of Credit Suisse’s main operating companies in the UK.
Prior to joining CSFB, Bennett was a managing director of structured lending, securities and derivatives at the Bankers Trust Company in Singapore and before that, worked as a derivatives trading and structured lending manager at Tokai International, Hong Kong.
Bennett graduated from Pembroke College, Oxford University and started his career at Grindlays Bank, India, as a trainee.
Simon Stockwell has an extensive background in market surveillance and compliance. He has previously worked as a deputy director and head of Surveillance at one of the FSAs legacy organisations for ten years – the Securities and Futures Authority. When it was merged with the FSA, he headed up the FSAs Complex Groups department in 1998.
Stockwell moved on to take up a position as a senior vice president, working as head of European Audit and Compliance at Lehman Brothers, London. Following that, he was appointed as managing director, working as their head of European Corporate Advisory Division from 2001-2006. He has a degree in economics and started his career as an inspector of surveillance and enforcement at the London Stock Exchange.