The Banking Standards Board today (Monday) announced the appointment of Saker Nusseibeh, CEO of Hermes Investment Management, to its Board.
Announcing the appointment, Dame Colette Bowe, Chairman of the Board, indicated that Mr Nusseibeh will join in September and will help to develop the BSB’s work with investors, in particular on identifying how banks can better assess and communicate the effectiveness of their plans to improve conduct and competence.
Commenting on Mr Nusseibeh’s appointment, Dame Colette said: “Investors are in pole position when it comes to strengthening banking reputations as bank boards will always pay attention if they become dissatisfied.
“We are particularly delighted to welcome Saker to the Board as his extensive investment experience will help the BSB work effectively, alongside the investor community and banks, to identify the most reliable data on which to base critical performance judgements.”
Mr Nusseibeh added: “Asset managers are the agents for the owners of Banks, representing the shareholdings of millions of British pensioners. The Global Financial Crisis damaged both consumer and industry confidence in the banking sector, which we must now work to rebuild. I am honoured to represent the investment community and look forward to working with my fellow Board members in the autumn.”