29 August 2016
Find out more

UK's Payments Council established; four independent directors appointed

09 March 2007  |  7343 views  |  0 London  Bridge

The first four independent directors have been appointed to The Payments Council, an independent body established to replace the Office of Fair Trading's Payments Systems Task Force.

The OFT said in November that its payments task force would be wound down and replaced with by an independent entity chaired by Brian Pomeroy - a former senior partner at Deloitte Consulting - and featuring four non-banking directors alongside eleven senior bank executives.

Michael Alexander, Moira Black, Martin Cave and Stephen Locke have now been named as the four independent directors of the council.

Alexander has extensive experience of the energy market having worked at BP and British Gas. As managing director, he and his team devised the multi-product strategy with which they took the business into the deregulated market place, leading the company into credit cards [Goldfish], electricity [dual fuel], and telecoms. From 2003-05, he was chief executive of British Energy, before pursuing a portfolio career.

Black is curently chairman of The North West London Hospitals NHS Trust. After qualifying as a chartered accountant with Price Waterhouse black became the first female partner in the London office in 1984. Since 1993 she has held a number of appointments, mainly in the public sector.

Cave is professor and director of the Centre for Management under Regulation, Warwick Business School. As well as his academic work, he has also undertaken studies for the European Commission and advised regulatory agencies. In 2006 he was special adviser to the European Commissioner for information society and broadcasting.

Locke is a specialist consultant on consumer policy and regulation and currently serves on the boards of the National Consumer Council and ICSTIS, as well as advising on standards in TV, radio, advertising and insurance. He is also a member of the independent financial services consumer panel advising the FSA on regulatory issues.

The new council will act as the strategic governing body for the UK payments schemes and will focus on innovation, accessiblilty and governance of payment systems. One of its key tasks will be to manage a full public consultation process, leading to the creation and adoption of a National Payments Plan.

Whilst payment schemes remain responsible for day-to-day management, organisations will bound by decisions of the council.

The first meeting of the board of the Payments Council will be held on Friday 30 March 2007.
KeywordsPEOPLE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Voca and Link to merge

Voca and Link to merge

06 March 2007  |  8073 views  |  0 comments
OFT extends interchange probe

OFT extends interchange probe

09 February 2007  |  6710 views  |  0 comments
UK sets up new payments governance body

UK sets up new payments governance body

14 November 2006  |  6386 views  |  0 comments
Appeals tribunal slams OFT for LME e-trading ban

Appeals tribunal slams OFT for LME e-trading ban

11 September 2006  |  4378 views  |  0 comments
OFT lifts LME e-trading ban

OFT lifts LME e-trading ban

16 May 2006  |  4851 views  |  0 comments
OFT to probe Internet shopping

OFT to probe Internet shopping

28 April 2006  |  5313 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
8414 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7990 views 11 | 24 tweets | 10 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
7296 views comments | 18 tweets | 21 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6857 views comments | 18 tweets | 21 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6390 views comments | 14 tweets | 14 linkedin

Featured job

Find your next job