Bankers and Hedge Fund Managers: 82% Believe FCA Fails to Balance Investor Protection and Growth Promotion (Photo: Reuters)
Regulator FCA Snaps Up Ex-Goldman Sachs and UBS Banker James Kelly

The Financial Conduct Authority has turned the tables on the recent trend of banks snapping up former regulators by appointing former Goldman Sachs and UBS banker James Kelly.

According to a FCA statement, the watchdog has appointed Kelly as an adviser in the wholesale banking and investment management division within the supervision unit.

"It's vital that we continue to appoint individuals with sector specific expertise into the FCA, and Kelly has that in spades," said Clive Adamson, director of supervision at the FCA.

"His knowledge of the market and strategic insight will be hugely valuable.

"This is the latest high-profile addition to the supervisory team at the FCA and I'm sure it will be welcomed by the industry."

Kelly will start his new role immediately and report to Will Amos, director of the FCA's wholesale banking and investment management division.

"The investment banking sector continues to experience considerable change, especially with regards to regulation," said Kelly.

Kelly is the latest in a line of high-profile appointments at the FCA after the regulator snapped up former CEO of Kleinwort Benson, Rob Taylor, who recently took up the role of head of wealth management and private banking in the regulator's supervision division.