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The Governor of the Bank of England, Andrew Bailey, has appointed Martin Pluves as an external member of the Financial Market Infrastructure (FMI) Board.
The FMI Board is a decision-making executive committee of the Bank of England, reporting to the Governor, and which exercises the Bank’s powers in relation to the three main types of financial market infrastructure (FMI) overseen by the Bank – recognised payment systems, central securities depositories and central counterparties.
The Boards remit includes the promotion of the safety and soundness of FMIs and the taking of specific regulatory, policy and risk decisions. The Board plays a vital role in oversight of the Bank’s financial market infrastructure policy and supervision and helps ensure the Bank meets its financial stability objective.
The Board is chaired by the Deputy Governor for Financial Stability, Sir Jon Cunliffe. In addition to senior executives from across the Bank, including the Executive Director for FMI, the Board includes three external members appointed by the Governor. Martin joins existing external members Julia Black and Elisabeth Stheeman.
Martin was previously CEO at LCH Ltd and CEO of the Fixed Income, Currencies and Commodities (FICC) Markets Standards Board.
Deputy Governor for Financial Stability and Chair of Financial Market Infrastructure Board Sir Jon Cunliffe said:
“Martin will prove to be an excellent addition to the FMI Board and will bring a huge amount of expertise on the financial market infrastructure sector, technology and management.”