FRC appoints two executive directors

The Financial Reporting Council (FRC) has made two appointments to its executive team, as the regulator continues its transition to a new body, the Audit, Reporting and Governance Authority, with a wider remit and new statutory powers

Mark Babington has been appointed executive director, regulatory standards, a role he has been filling on an interim basis since the beginning of April. He has significant experience in public and technical policy, particularly in audit and ethics, both within the FRC, and before that as a director at the National Audit Office.

Babington, executive director of regulatory standards, said: ‘I am thrilled to have the opportunity to lead the FRC’s regulatory standards division.

‘We are a growing team of technical and policy professionals, who act in the public interest to improve the quality of audit, corporate reporting, corporate governance and stewardship and actuarial work in the UK.

‘We also lead the FRC’s stakeholder engagement and outreach to ensure that our work reflects our stakeholders’ needs and our sphere of influence.’

Alex Kuczynski has been appointed executive director, corporate services and general counsel.

He joins from the Financial Services Compensation Scheme where he was most recently the chief corporate affairs officer and director of corporate affairs, and a board director. Kuczynski has worked both in house as general counsel and previously in private practice at Herbert Smith Freehills and Hogan Lovells, and has had extensive regulatory experience in the financial services industry both in the UK and internationally. 

Kuczynski, executive director, corporate services and general counsel said: ‘I am delighted to be joining the FRC at this key stage in its transformation to becoming a new regulator.

‘The breadth and depth of the FRC’s activities and scope make this role an especially fascinating and challenging one as the corporate services team play a key role in supporting the delivery of the FRC’s success and influence.’

The FRC said both appointments were made after an extensive open and competitive recruitment process.

Sir Jon Thompson, CEO of the FRC said: ‘I am very pleased that we have appointed such high calibre candidates to these key roles. I know that they will build on the strong talent in each of their divisions and the collaborative strength of the FRC as we respond to a dynamic and changing landscape and focus on delivering our transition into the new Audit, Reporting and Governance Authority.’

By Pat Sweet

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