UK govt unveils Libor committee membership

26 February 2013

The membership of the UK government's new body that will oversee the London Interbank Offered Rate (Libor) has been unveiled.

Yesterday (25 January), the Conservative-Liberal Democrat alliance announced who will sit on this panel, the creation of which was one of the main recommendations put forward in the Wheatley Review of Libor last year.

Named the Hogg Tendering Advisory Committee for Libor, the group will consist of seven members in total, with Baroness Hogg, the current chair of the Financial Reporting Council, leading.

Other panelists include director of markets at the Bank of England Paul Fisher, Martin Wheatley - the managing director of the Financial Services Authority who wrote the aforementioned 2012 report - and John Stewart, chairman of the Legal & General group.

The government believes the creation of this body is "crucial to restoring confidence" in the key international benchmark and Greg Clark, financial secretary to the Treasury, added the administration is "determined to rebuild the reputation of UK financial services".

By Gary Cooper

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development