We are pleased to announce that Gareth Murphy, Group Chief Risk Officer at abrdn and Alison Higgins, Markets Head for UK, Europe, and the Americas and Global Head of Control for Markets at Standard Chartered Bank, are taking on the role of joint Chairs of FMSB’s Conduct & Ethics Committee.
Gareth has been on FMSB’s Advisory Council since 2023 and has also played an active part in the working groups of the Conduct & Ethics Committee over the past two years. Alison joined the Conduct & Ethics Committee last year and chairs the Committee’s newly established working group examining unauthorised trading.
We are grateful to Tracey McDermott, former Group Head, Conduct, Financial Crime & Compliance at Standard Chartered Bank, for her dedication chairing the Committee for the past four and a half years.
Gareth Murphy said:
“FMSB is a highly effective forum for bringing together senior practitioners from across wholesale markets to develop industry standards and guidance. Cross-industry collaboration on conduct and ethics continues to be of vital importance as markets evolve and is often a better approach than additional regulation. Working with Alison, I look forward to harnessing the deep expertise among FMSB Members to find ways to support firms with these challenges.”
Alison Higgins said:
“I am delighted to be co-chairing FMSB’s Conduct & Ethics Committee with Gareth. Under Tracey the Committee produced valuable work on areas such as applying the 3 Lines Model, how firms collect and use conduct and culture data and front office supervision of wholesale trading. I look forward to continuing this trajectory. The issue of unauthorised trading is particularly pertinent amid rapid developments in technology and our working group on this topic is already developing good practice guidance to support firms in managing these risks.”
Biographies:
Gareth Murphy
Gareth Murphy has been Chief Risk Officer at abrdn since January 2018. He joined in January 2017 as Chief Risk Officer of Standard Life Investments and Deputy Group Chief Risk Officer. Previously, Gareth spent six years as Director of Markets Supervision at the Central Bank of Ireland. During that time, he was also a member of the Board of Supervisors of the European Securities and Markets Authority and chair of its Investment Management Standing Committee. From 1995, Gareth spent 13 years in the investment banking and hedge fund industries, initially at Long-Term Capital Management, then at JP Morgan where he was Co-Head of European Equity Flow Derivatives, and then at Castlegrove Capital Management where he was a partner. This period was book-ended by two stints at the Bank of England where he started his career as an economist in 1992, returning in 2008.
Alison Higgins
Alison Higgins is Markets Head for UK, Europe, and the Americas & Global Head of Control for Markets at Standard Chartered Bank. Based in London, she is responsible for leading the Europe and Americas regions in delivering the Markets growth strategy and corporate plan, whilst ensuring conduct, culture and behaviour outcomes are aligned to the Bank’s values. This is in addition to driving and building a robust Control Framework for the Markets business globally across Europe, Americas, Middle East, Africa, and Asia. Prior to joining Standard Chartered in June 2023, Alison was the Global Head of FX and Rates Trading at First Abu Dhabi Bank in the UAE. She has over 20 years of experience in trading and treasury functions that has taken her to Singapore, New York, Abu Dhabi and most recently back to London.
Alison holds a BA in Industrial Economics from the University of Nottingham.
About FMSB:
- Financial Markets Standards Board (FMSB) is an industry-led, member-funded global standards body for the wholesale financial markets.
- Created out of the Fair and Effective Markets Review (FEMR) in 2015, FMSB brings together its Members from banks, investment institutions, infrastructure and information providers, corporates, pension funds and interdealer brokers, to develop Standards, Statements of Good Practice and Spotlight Reviews that raise standards of behaviour, competence and awareness – to promote the fairness and effectiveness of global wholesale financial markets.
- As well as standard setting, subject matter experts from member firms debate issues in working groups and are able to benchmark their approaches against industry peers, thus helping to lift standards of conduct.
- FMSB’s full membership list is here
For more information/ media inquiries:
Laura Conaghan
+44 (0)7929 72669
Laura.conaghan@fmsb.com