The board of the newly established trade association is led by UK Finance chair Bob Wigley and comprises 19 other senior industry representatives across retail, SME, wholesale and consumer.
Lord Macpherson – who is the chair of the privately owned bank C Hoare & Co – will lead on private banking.
UK Finance was formed on 1st July 2017 and represents around 300 firms in the UK providing credit, banking, markets and payment-related services.
Its members offer a wide range of financial and advisory services across both mutual and corporates, representing regional, national, domestic and international businesses.
The board has been developed to ensure senior and fair representations across the industry.
Its main focus will be on issues of importance to retail, SME and wholesale customers, including ethics, financial inclusion, financial fraud, crime, access to markets and diversity.
UK Finance’s board will also ensure the consumer voice is represented via the inclusion of a strong, independent consumer champion, while significant overlap of board members with the banking standards board will support a close cooperation with its work to promote high standards across the industry.
“Lord Macpherson’s appointment completes the UK Finance board and is another significant milestone for our new association, providing representation for our members in the private banking space,” said Bob Wigley, chair of UK Finance.
Lord Macpherson added: “I am pleased to be joining the board of UK Finance, which has an important role to play in repositioning and representing a responsible British financial services sector.”
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