The FPC has been created to better ensure the stability of the financial system. Jenkins is expected to lobby for investors to play a bigger role in persuading banks to take less risks.
Jenkins previously served on a HM Treasury task force on financial sector competitiveness and co-chaired, together with the Chancellor, a high level group on the future of the investment management industry. A former CEO and Chairman of F&C Asset Management, plc., US-born Jenkins is to return to the UK and relinquish his executive involvement with New York-based global macro hedge fund Combinatorics Capital.
He led the UK’s Investment Management Association between 2007 and 2009, a period of great market turmoil and one which marked the beginning of the current regulatory reform debate. Jenkins became a forceful advocate for marking bad loans to market, director accountability, reduction of bank leverage and the need for an effective resolution regime which would permit banks to fail without putting the system at risk. His new appointment is to the very committee which will help shape future regulatory landscape.
Commenting on his appointment, Mr Jenkins said: "Better ensuring financial stability is a major challenge of our time. I look forward to making a contribution and am honoured by the appointment."
Jenkins teaches London Business School’s highly-popular Topics in Asset Management elective course.