Callum McCarthy explained

Sir Callum McCarthy (born 29 February 1944) is the former chairman of the Financial Services Authority. He is also the former non-executive chairman of Promontory Financial Group's UK affiliate.^[1] ^[2]

Early life and education

McCarthy attended Manchester Grammar School, then graduated in history from Merton College, Oxford. He also has a PhD in economics from Stirling University and an MS from the Graduate School of Business at Stanford University, where he was a Sloan Fellow.^[3]

McCarthy has held various high-profile private sector and government regulatory positions:^[4]

1965 – Economics researcher at chemical corporation ICI for seven years on graduating in 1965.
1972–85 – Several posts at the Department of Trade and Industry including Principal Private Secretary to Roy Hattersley when he was Secretary of State for Prices and Consumer Protection and to Norman Tebbit when he was Secretary of State for Trade and Industry.
1985 – Director of Corporate Finance at investment bank Kleinwort Benson
1989 – managing director and Deputy Head of Corporate Finance of Barclays' investment banking arm, BZW. McCarthy later become chief executive officer of Barclays Bank group operations in Japan before moving to head the Bank's businesses in North America.
September 1998 – Appointed by Peter Mandelson to become Director-General of the gas regulator Ofgas.^[5]
1999 – Chief Executive of new energy super-regulator Ofgem, where he oversaw the introduction of greater competition into the gas and electricity markets
September 2003 – Chairman of the Financial Services Authority (FSA)
October 2008 – Non-executive board member of HM Treasury
Current – Non-executive chairman of Castle Trust^[6]

Married with three children, he is a keen beekeeper.^[7]

In the 2011 film Too Big to Fail, McCarthy is played by actor George Taylor.

Web site: Sir Callum McCarthy. Promontory Financial Group. 29 April 2013.
News: NY regulator steps up Promontory probe. Financial Times. 21 July 2015. Chon. Gina. Arnold. Martin.
Book: Successes and Failures in Regulating and Deregulating Utilities: Evidence from the UK, Europe and the USA. 2004. Edward Elgar Publishing. 1845420780. xi. Colin Robinson.
News: Smale. Will. Profile: Callum McCarthy and the FSA. 8 October 2007. BBC. 29 April 2013.
Web site: Arminas. David. The generation game. Supply Management. Redactive Media Group on behalf of the Chartered Institute of Purchasing & Supply. 29 April 2013. 6 April 2000.
Web site: Who we are. Castle Trust. 29 April 2013.
Web site: Sibun. Jonathan. Beekeeper Sir Callum McCarthy looks for a new source of honey. The Telegraph. Telegraph Media Group Limited. 29 April 2013. 3 July 2011.