The International Regulatory Strategy Group (IRSG) has appointed former City Minister, Mark Hoban, as its new Chairman. Mark will succeed Rachel Lomax to the role in February 2016 at the end of her three year term.

The IRSG – a body jointly sponsored by TheCityUK and the City of London Corporation – comprises senior practitioners from across the financial and related professional services industry and focuses on the promotion of regulation that encourages open and competitive markets across Europe. Mark will chair the IRSG's work on strategic and technical regulatory issues. Recent priorities of the IRSG include the development of a Capital Markets Union, MiFID II and tax, specifically in relation to the proposed Financial Transactions Tax (FTT).

Commenting on his appointment, Mr Hoban said, "I am very pleased to be taking up the role of Chairman of the IRSG at this crucial time for London and the UK as an international financial centre. My term as Chairman will be dominated by the EU referendum and the recalibration of regulation post-crisis. Working with the members of the IRSG, TheCityUK and the City of London Corporation, I want to set a policy agenda that enables the financial sector to flourish while serving the wider economy. I want to build on Rachel's excellent work over the last three years establishing the IRSG as the leading cross-sectoral industry group in Europe."

Chris Cummings, Chief Executive, TheCityUK said,

“We are very pleased to appoint a Chair of Mark’s calibre to succeed Rachel. It is vital that our markets are properly, but not overly, regulated and the IRSG plays an important role in making that case in Brussels and across the EU.”

Mark Boleat, Chairman of Policy and Resources Committee at the City of London Corporation, commented:

“The work of the IRSG is well respected by policymakers, regulators and industry stakeholders in the UK and the EU and Mark’s expertise and experience make him an ideal successor to Rachel. His knowledge of the industry, relationships with key stakeholders and his proven track record in regulatory change will bring a wide range of benefits to the group.”

Mark will also join the Board of TheCityUK. He is Chairman of the Board for Flood Re. He also sits on the Board of the London Stock Exchange Plc and is a senior adviser to Markit, a leading international financial information provider. He was previously the Member for Parliament for Fareham and during his time in Parliament, served as Minister for Employment (2012-2013) and as Financial Secretary to the Treasury (2010 – 2012).

For further information, please contact:

Jennifer Green / Tatiana Raikes – TheCityUK

07899 102 889 / 07809 334 681

jennifer.green@thecityuk.com / tatiana.raikes@thecityuk.com

Henry Tanner – City of London Corporation

Senior Media Officer, Public Relations Office

City of London Corporation

020 7332 1835 / 07717 797821

henry.tanner@cityoflondon.gov.uk

About TheCityUK

TheCityUK represents the UK-based financial and related professional services industry. We lobby on its behalf, producing evidence of its importance to the wider national economy. At home in the UK, in the EU and internationally, we seek to influence policy to drive competitiveness, creating jobs and lasting economic growth – www.thecityuk.com.

About the City of London Corporation

The City of London Corporation provides local government and policing services for the financial and commercial heart of Britain, the 'Square Mile'. In addition, the City Corporation has three roles:

(1) We support London’s communities by working in partnership with neighbouring boroughs on economic regeneration, education and skills projects. In addition, the City of London Corporation’s charity City Bridge Trust makes grants of more than £15 million annually to charitable projects across London and we also support education with three independent schools, three City Academies, a primary school and the world-renowned Guildhall School of Music and Drama.

(2) We also help look after key London’s heritage and green spaces including Tower Bridge, Museum of London, Barbican Arts Centre, City gardens, Hampstead Heath, Epping Forest, Burnham Beeches, and important ‘commons’ in south London.

(3) We also support and promote the ‘City’ as a world-leading financial and business hub, with outward and inward business delegations, high-profile civic events and research-driven policies all reflecting a long-term approach.

See www.cityoflondon.gov.uk for more details.