Financial Reporting Council - The FRC

FRC Board

The FRC Board is composed of the Chair, a non-executive Deputy Chair, the Chief Executive, seven non-executive directors and the Chairs of the FRC's six Operating Bodies. The FRC Board complies with the relevant principles and provisions of the Combined Code.

To view the minutes of the meetings of the Board of Directors, click here.

Chair
Sir Christopher Hogg		Sir Christopher Hogg became Chairman of the Financial Reporting Council on 1st January 2006. He began his career in industry with Courtaulds in 1968, going on to become Chief Executive in 1979, executive Chairman from 1980, and non-executive Chairman from 1991 to 1996. He was a non-executive director and subsequently Chairman of Reuters Group (1984-2004), SmithKline Beecham and then GlaxoSmithKline (1993-2004), and Allied Domecq (1995-2002). He was a non-executive director of Air Liquide SA from 2000 to 2005. Sir Christopher was a member of the Department of Industry's Industrial Development Advisory Board from 1976 to 1980 and a non-executive Director of the Bank of England from March 1992 to 1996. He was non-executive Chairman of the National Theatre from 1995 to 2004 and a Trustee of the Ford Foundation from 1987 to 1999. Sir Christopher is a graduate of Oxford and Harvard and saw active service with the Parachute Regiment in Cyprus and Suez on National Service. Before his career in industry he worked for three years in corporate finance in the City and two years in the public sector.

Deputy Chair
Baroness Hogg		Sarah Hogg is Chairman of 3i Group, Europe's leading quoted private equity company. She is a Senior Independent Director of BG Group plc and a director of Cadbury plc. She also chairs Frontier Economics Limited, a consultancy founded in 1999 to specialise in the provision of strategic and competition advice and the economics of regulation. An economist with extensive experience of business, government and the media, Sarah has worked at the highest level in all three. As Head of the Prime Minister's Policy Unit, with the rank of Second Permanent Secretary, from 1990 to 1995, she was closely involved in the programmes of privatisation and private finance, performance measurement in public services and international economic issues. She was the then Prime Minister's closest adviser on the Uruguay round of trade negotiations and the creation of the World Trade Organisation. Before that Sarah Hogg was responsible for the economics coverage of a number of Britain's most respected publications, including The Economist, The Times and The Daily Telegraph. She was involved in the start-up of The Independent, with responsibility for hiring and managing its award-winning business team from 1986 to 1989. She was created a Life Peer in the 1995 New Year's Honours List.

Chief Executive
Paul Boyle		Paul Boyle is the first Chief Executive of the Financial Reporting Council. He is also the Chairman of the International Forum of Independent Audit Regulators, having been appointed as its first Vice-Chair in September 2006. Paul is a Board Member of the Financial Services Skills Council. Previously Paul was the Chief Operating Officer of the Financial Services Authority. Paul was also with Cadbury Schweppes for 8 years including a spell as Group Financial Controller and latterly as a Director of Cadbury Limited, with responsibility for Finance, Information Technology, Purchasing and Cocoa Buying. He trained with Coopers & Lybrand, and spent 8 years with the firm including 2 years in Turkey. His first job in industry was with WH Smith Group plc.

Non executive directors
Eric Anstee		Eric is a Chartered Accountant, with a strong City reputation. He was, until the end of 2006, the Chief Executive of The Institute of Chartered Accountants in England and Wales. Prior to that he was the CEO of Old Mutual Financial Services plc. He has been CFO of three FTSE 100 Companies - Old Mutual plc, The Energy Group plc and Eastern Electricity plc. He is a Non- Executive Director and Audit Committee Chair of Paypoint Plc, a non-executive Director of Insight Investments (the asset management wing of HBOS), and a member of the Takeover Panel Appeals Board. His early career was as a Partner at Ernst & Young until 1993.
Peter Chambers		Peter Chambers joined Legal & General Investment Management (LGIM) in November 2005 as Chief Executive Officer. Over the past twenty five years Peter has held a range of key positions in a number of prominent investment management businesses. Before joining LGIM, he was Chief Executive Officer for Framlington Group, Chief Investment Officer at Gartmore, Chief Investment Strategist for James Capel & Co. Ltd, Head of International Equities at Citibank Global Asset Management and managed UK Pension funds at Lazard Brothers. Peter has a broad range of industry expertise ranging from developing a hedge fund business to managing money for Sovereign Wealth Funds. He is a Non-Executive Director of the Financial Reporting Council and is also a Director of the Investment Management Association. Peter was recently appointed to the joint FSA and Treasury review panel, looking into rights issues. He is also a former European Council Member of the CFA Institute. Peter graduated with a BA Honours in Geography from Sheffield University and also holds a MBA from the Manchester Business School.
Rudy Markham		Rudy was educated at Christ's College, Cambridge University, graduating with a master's degree in natural sciences. He joined Unilever in 1968 as a commercial management trainee with the Wall's Meat Company. He spent most of his early career in the finance function of various Unilever companies in Europe, before being appointed financial director of Unilever in Zurich. He returned to Rotterdam as head of the finance department and became group treasurer of Unilever in 1986. From 1989 to 1998, Rudy was based in the East Asia Pacific region, first as chairman and managing director in Australia and New Zealand, and later as chairman and CEO of Unilever Japan. From 1996 to 1998 he was responsible for running operations in China, Hong Kong, Japan, South Korea and Taiwan based in Singapore. In 1998 he joined the Board of Unilever as director of strategy and technology. He was appointed Financial Director in August 2000 and retired in 2007. Rudy is a Fellow of the Chartered Institute of Management Accountants and the Association of Corporate Treasurers. He is a non-executive director of Standard Chartered and in May 2004 he became chairman of the audit & risk committee and a member of the nominations committee. He is also a non-executive director of Legal &General, Astra Zenica and United Parcel Service Inc.
Sir Michael Rake		Sir Michael is Chairman of BT Group plc. From May 2002 to September 2007 Mike was Chairman of KPMG International. Prior to his appointment as Chairman of KPMG International, he was Chairman of KPMG in Europe and Senior Partner of KPMG in the UK. He joined KPMG in 1974 and worked in Continental Europe before transferring to the Middle East to run the practice for three years in 1986. He transferred to London in 1989, became a member of the UK Board in 1991, and had a number of leadership roles in the UK before being elected UK Senior Partner in 1998. Mike is a non-executive Director of Barclays and McGraw Hill. He is also a member of the Board of the TransAtlantic Business Dialogue, a member of the CBI International Advisory Board, the International Business Council of the World Economic Forum, the Chartered Management Institute and the Advisory Council for Business for New Europe. He is Chairman of the UK Commission for Employment and Skills and Vice President of Royal National Institute of the Blind. Mike is a member of the DTI UK/US Taskforce on Regulation. Previous appointments include Chairman of Business in the Community (2004-2007) and a member of the Board of Prince of Wales International Business Leaders Forum (1998-2007) Mike is also a Governor of Wellington College and a board member of the Guards Polo Club.
Sir Steve Robson CB		Steve Robson retired as Second Permanent Secretary at HM Treasury in January 2001. He joined HM Treasury after leaving university. His early career included a period as Private Secretary to the Chancellor of the Exchequer and a two year secondment to Investors in Industry plc (now 3i). From 1997 until his retirement his responsibilities included the legal framework for the regulation of the UK financial services industry, public-private partnerships, procurement policy including the private finance initiative and the Treasury's enterprise and growth unit. He is a non-executive director of J P Morgan Cazenove plc and Xstrata plc.
Sir John Sunderland		Sir John joined Cadbury in 1968 and was appointed Chief Executive of Cadbury Schweppes in September 1996 and then Chairman in May 2003: He retired in July 2008. His career has included directorships in both Confectionery and Drinks Divisions of the Group, in Ireland, South Africa, and the UK. He was a founding director of Coca-Cola and Schweppes Beverages Ltd in 1987, then in 1989 was appointed Managing Director of the UK Sugar Confectionary Division, Trebor Bassett. In 1993 he became Managing Director, Confectionery Stream and a member of the Cadbury Schweppes Board. He is a Non-executive Director of Barclays plc, a Director of the Financial Reporting Council, an Adviser to CVC Capital Partners and an Advisory Board member of Trinsum Group (formerly Marakon and IFL), an Association Member of BUPA, a member of the Council of Reading University and the Council of Aston University, and President of the Chartered Management Institute. He was President of the UK Food and Drink Federation 2002-2004, President of ISBA, the Incorporated Society of British Advertisers, 2002-2005 and President of the Confederation of British Industry 2004-2006, then CBI Deputy President 2006-2008. He served as a Task Force Member on Accounting For People, as a Leadership Council member of Young Enterprise and on the Tomorrow's Company Inquiry into Wealth Creation. He was a Non-executive Director of The Rank Group Plc 1998-2006. He was knighted in the Queen's Birthday Honours in June 2006.
Lindsay Tomlinson		Lindsay Tomlinson is Vice-Chairman of Barclays Global Investors Europe, and is a member of BGIs Executive Committee. He is a Cambridge University mathematics graduate and has a post graduate qualification in mathematical statistics. After leaving university he worked as a pensions actuary and is a Fellow of the Institute of Actuaries. He moved into the investment world in 1981, joined BGI in 1987 and has been a senior executive of the company since 1991. Outside of BGI Lindsay has contributed to the development of the financial services industry through membership of a range of relevant industry bodies. He is currently a member of the National Association of Pension Funds' Investment Council. Additionally he is Chairman of the Code Committee of the Takeover Panel. Lindsay was awarded the OBE for services to the fund management industry in 2005.

Chairs of the operating bodies
Richard Fleck CBE, Chair of the Auditing Practices Board		Richard Fleck qualified as a solicitor with Herbert Smith in 1973 and became a partner in 1980. He specialises in corporate and regulatory law. He has been involved in audit standard setting since 1986, initially as a member of the Auditing Practices Committee, and subsequently as a founder member of the former Auditing Practices Board.
Bill Knight, Chair of the Financial Reporting Review Panel		Bill Knight is a solicitor and a former Chairman of the Law Society's Company Law Committee. He was senior partner at Simmons & Simmons until 2001 and was Chairman of the Enforcement Committee of the General Insurance Standards Council until 2005. He is currently Deputy Chairman of Council at Lloyd's of London and a Gambling Commissioner.
Ian Mackintosh, Chair of the Accounting Standards Board		Ian Mackintosh is the full-time Chair of the ASB. Originally from New Zealand, Ian has spent much of his career in Australia, first with Coopers & Lybrand and later as a consultant in his own practice. In November 2000, he was appointed Chief Accountant of the Australian Securities and Investment Commission and following that was Manager, Financial Management, South Asia at the World Bank. Ian has played an active role in standard-setting since 1983. He was a member, and later Deputy Chairman, of the Australian Accounting Standards Board, as well as chairing its Urgent Issues Group. Ian is also a member of the International Accounting Standards Board's Standards Advisory Council. He has substantial public sector experience, having chaired both the Australian Public Sector Accounting Standards Board and the IFAC Public Sector Committee.
Dame Barbara Mills, DBE QC, Chair of the Professional Oversight Board		Dame Barbara Mills is a barrister who was in practice at the Bar for over 25 years. She became Director of the Serious Fraud Office from 1990 to 1992. From then until 1997 she was Director of Public Prosecutions and Head of the Crown Prosecution Service. Since 1998 she has been The Adjudicator for Her Majesty's Revenue & Customs and two other Government Departments. She has sat as a Judge and has been an Inspector in a DTI inquiry. She is a member of the Competition Commission.
Jim Sutcliffe, Chair of the Board for Actuarial Standards		Jim Sutcliffe has operated at a senior level in the insurance, banking and asset management industries for many years, which included being Chief Executive of Prudential's UK business, and Group Chief Executive of Old Mutual plc. He is a Director of Lonmin plc and Sun Life of Canada. Jim grew up in South Africa and qualified as an actuary in 1979.
Timothy Walker, Chair of the Accounting and Actuarial Discipline Board		Timothy Walker began his career as an academic scientist, teaching and doing research on the borders of chemistry and physics. Following a short spell with the GLC, he joined the Department of Trade and Industry and worked on telecommunications liberalisation, aid to industry and managed IT R&D programmes. He was responsible for civil nuclear issues at the Department of Energy and was the UK Governor of the IAEA from 1989-95 and chairman of the EBRD Nuclear Safety Account from 1993-5. He moved to be head of immigration in the Home Office in 1995 and was Deputy Chairman of HM Customs and Excise from 1998-2000, when he became Director General of the Health and Safety Executive, retiring in 2005. He is the Third Church Estates Commissioner, a non executive director of the London Strategic Health Authority, a Trustee of the Prostate Cancer Charity and the De Morgan Foundation, and a member of the Scientific Council of the International Risk Governance Council. He is 63, married with three daughters, and lives in Balham.