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Jon Pain joins the Board in the capacity of his position as Managing Director, Retail Markets at the FSA.

Ussher said, “I welcome the appointment of Jon Pain as Managing Director and am pleased to appoint him to the FSA Board in that capacity. His knowledge of retail markets will prove invaluable to the FSA.”

The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.

Jon Pain takes up the role of Managing Director of the Retail Markets Division, having previously been Managing Director at Cheltenham and Gloucester.

In addition to the Chairman and Chief Executive, there are currently three executive director posts and nine Non-executive members of the Board.

Current FSA board members

Sir Callum McCarthy - Chairman until 21 September 2008
Joined the FSA in September 2003 from the Office of Gas and Electricity Markets where he was Chairman and Chief Executive.

Lord Adair Turner - Chairman-designate
Takes up office on 22 September 2008

Sir James Crosby - Deputy Chairman Non-executive Board member
Joined the FSA Board in January 2004. He is a Non-executive Director of ITV plc, and Compass Group Plc. and is also a Fellow of the Faculty of Actuaries.

Hector Sants - Chief Executive
Appointed FSA Chief Executive in July 2007. He joined the FSA in May 2004 as Managing Director, Wholesale and Institutional Markets at the FSA.

David Kenmir - Managing Director, Retail
Appointed Managing Director for Regulatory Services in April 2004. He has been performing the role of Acting Managing Director, Retail since April 2008.

Sally Dewar - Managing Director, Wholesale.
Formerly Director of the Markets Division, she joined the Stock Exchange's Listing Authority in 1998 and until October 2005 was Head of Primary Markets in the Markets Division.

Carolyn Fairbairn - Non-executive Board member 
Carolyn Fairbairn joined the FSA Board in December 2007. She is the Director of Strategy and Development at ITV plc. Carolyn is also a non-executive director of Digital UK, the organisation leading the UK's switch to Digital TV.

Peter Fisher - Non-executive Board member
Joined the FSA Board in January 2007. He is currently a Managing Director of BlackRock, Inc., and Chairman of BlackRock Asia.

Brian Flanagan - Non-executive Board member
Joined the FSA Board in January 2007. He is a Non-executive Director of WM Morrison plc, Jet Environmental Techniques Limited and Personal Navigation Systems Limited and was formerly a Vice President of Mars Inc.

Karin Forseke - Non-executive Board member
Joined the FSA Board in December 2004. She was Chief Executive Officer of Carnegie Investment Bank AB from 2003 until March 2006.

Sir John Gieve - Non-executive Board member (ex-officio post)
Joined the FSA Board when he became Deputy Governor, Financial Stability of the Bank of England in January 2006. He is a member of the Bank's Monetary Policy Committee, and in addition has specific responsibility for the Bank's work on Financial Stability issues. Before joining the Bank of England Sir John was the Home Office Permanent Secretary from April 2001.

Professor David Miles - Non-executive Board member
Joined the FSA Board in April 2004. David became Managing Director and Chief UK Economist at Morgan Stanley & Co Ltd in October 2004 and retains the role of visiting Professor of Financial Economics at Imperial College, University of London.

Michael Slack - Non-executive Board member
Joined the FSA Board in December 2004. He is Chairman of the Fyfe Group Ltd and a Director of the British Insurance Brokers' Association (BIBA).

Hugh Stevenson     Non-executive Board member -
Joined the FSA Board in June 2004. He is Chairman of Equitas Limited, Chairman, The Merchants Trust Plc and a Non-executive Director of Standard Life Plc. He is also Chairman of the FSA Pension Plan Trustee Ltd.