• Register
Return to: Home > News > Industry Appointments > JP Morgan Europe under “compatible” chairmanship of UK FRC head

JP Morgan Europe under “compatible” chairmanship of UK FRC head

JP Morgan Chase has appointed Sir Win Bischoff as chairman of its European holding company, effective January 2015.

In May of this year, Bischoff was appointed chairman of the UK Financial Reporting Council (FRC), the accounting profession watchdog in the UK.

Asked if both function were compatible, a JP Morgan spokesperson said its board members can have commitments with other organisations as long as these organisations are not competitors.

"The FRC has a diverse board many of whom sit on boards of various companies," a UK FRC spokesperson told The Accountant. "The FRC believes it is important to have board members with a wide breadth of experience as the board oversees the FRC's work towards promoting high quality reporting and governance to foster investment."

Bischoff appointment to JP Morgan is non-executive and is expected to be less than two days a week, while his time commitment at the UK FRC is around two to two and a half days a week, the UK FRC spokesperson continued.

"Regarding conflicts of interest: Sir Win is not on the FRC's Conduct Committee which decides whether to commence an investigation and in any event, potential and actual conflicts are closely monitored," the spokesperson concluded. "If JP Morgan was to be investigated, Sir Win would remove himself from the process. This is a standard procedure we have with all members of the board who are also sitting on boards of other companies."

Related article:

Lloyds outgoing chairman to lead UK FRC board

Related link:

UK FRC

Top Content

    2018 Digital Accountancy forum and awards: Digital transformation

    The Accountant presents highlights from The Digital Accountancy Forum & Awards 2018 panel discussions

    read more

    2018 Digital Accountancy Forum and Awards: Tech deep dive

    The second panel session of the day saw experts discuss how new technologies should not just be seen as a threat, and could be used to improve accounting.

    read more

    Digital Accountancy Forum and Awards: The power of data

    The third panel discussion of the day saw panellists discuss some of the worries their clients have had, how to overcome them, and how data and technology are providing real business opportunities.

    read more

    Digital Accountancy Forum and Awards: The next generation

    With young people more mobile, and technology changing the industry rapidly, the final panel session of the Digital Accountancy Forum looked at how firms would need to adapt to the new reality

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.