The Practitioner Panel is an independent statutory panel required under the Financial Services and Markets Act 2000 to represent the interests of practitioners.
The Prudential Regulation Authority (PRA) has a statutory duty to maintain effective arrangements to consult practitioners and consider their representations. The Panel will consider the policies and practices of the PRA and provide input to the PRA Board in order to help it meet its statutory and operational objectives.
The membership of the Panel is representative of PRA approved persons. Members have been nominated by trade associations, with the composition being broadly representative of how the PRA allocates its resources. Members are independent of the firm and trade association they are drawn from.
The Panel will meet approximately every six weeks and its members will serve a three year term which is renewable at the discretion of the PRA. For future recruitment, the PRA will consult the relevant trade association(s) to secure nominations for new members.
Members have been approved by the PRA Board and officially joined the Panel at the constitutive meeting which was held on 29 November 2013.
The Panel has elected its own Chair, Martin Gilbert (CEO of Aberdeen Asset Management). and Deputy Chair, Brian McCrory (Director of Belfast Teachers Credit Union), both of whom were approved by HM Treasury on 6 December 2013.
The membership of the Panel and the trade association which nominated them is as follows:
British Bankers’ Association
- Francesca McDonagh, Head of Retail and Wealth Management, HSBC
- Nathan Bostock, Chief Executive Officer, Santander UK
- James Bardrick, UK Country Officer, Citibank
Association of British Insurers
- Richard Ward, Chairman, Brit Plc
- Tim Harris, Group Finance Director, Royal London
Building Societies Association
- Mark Rennison, Group Finance Director, Nationwide Building Society
- Ashraf Piranie, Deputy Chief Executive and Finance Director - Nottingham Building Society
Investment Management Association
- Martin Gilbert, Chief Executive, Aberdeen Asset Management
Association of Foreign Banks
- Sun Yu, Chief Executive, Bank of China UK
The Wealth Management Association (WMA)
- Andy Pomfret, WMA Board Member
Mainland UK Credit Unions
- Robert Kelly, NHS Credit Union
Northern Irish Credit Unions
- Brian McCrory, Director, Belfast Teachers Credit Unions
The Institute of Chartered Accountants in England and Wales / The Institute of Chartered Accountants of Scotland
• Mark Rhys, Banking Partner, Deloitte