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FSA's Farnish named as new NAPF head

UK- National Association of Pension Funds has named the Financial Services Authority’s Christine Farnish as its new chief executive and replacement for David Cranston who resigned last December after eighteen months in the job.

She joins in July from the UK finance regulator, where she was director of the consumer division. Prior to the FSA she was deputy director general of the telecoms regulator Oftel.

Farnish is joining the association at a busy time. It is highlighting the plight of DB schemes and is lobbying for more favourable tax treatment for long-term pensions saving.

It has also asked the government to commit to a radical simplification of the regulatory burden on employers operating pension schemes and is lobbying for flexible retirement arrangements and the abolition of stamp duty.

Said Farnish: “pensions are at the forefront of the political and media agenda, and I am relishing the opportunity to play my part in this crucial national debate.”

British Airways pensions veteran Jenny Rosser came out of retirement to act as director general just for the interim but will stand down at the end of June.

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