31 March, 2015
StepChange Debt Charity announced today that Sir Hector Sants will serve as its new Chair. He replaces Lord Wilf Stevenson of Balmacara who is standing down today after five years in the role.
Lord Stevenson said:
"I am delighted that Hector Sants will lead StepChange Debt Charity in the next stage of its development. Over the last five years the number of people in problem debt who receive our help has grown by more than 80%, and we are an increasingly influential voice in the debate on how we prevent problem debt occurring in the first place. Hector's deep knowledge of the financial services sector and the commitment to positive change he has shown through the Archbishop’s Task Force on Credit Unions and the Financial Sector are an ideal combination in terms of helping StepChange Debt Charity achieve its vision of a society free from problem debt. I have hugely enjoyed my time with the charity and I wish the staff and the Board every success in the future"
Sir Hector said:
"I have admired the work which StepChange Debt Charity does in helping people in problem debt get back on their feet and the work they do in preventing the problem. I look forward to working with the dedicated board and staff and helping them to build on the momentum which has been achieved under Lord Stevenson's Chairmanship."
Sir Hector's appointment will take effect from 1 July and Sir Geoff Mulcahy, an existing board member, will act as interim Chair until then. Sir Hector joins recent appointees Dame Suzy Leather and John Fingleton.
Sir Hector Sants
Sir Hector Sants is Chair of the Archbishop of Canterbury's Task Group on promoting responsible savings and credit; and Chief Advisor to the Chairman and Board of the Abu Dhabi Global Markets, a government initiative to create an offshore financial centre.
Prior to this he was at Barclays where he was responsible for Compliance and Government and Regulatory Relations.
Previous roles include the Chief Executive of the Financial Services Authority, Deputy Governor designate of the Bank of England, CEO designate of the Prudential Regulation Authority, and a member of the interim Financial Policy Committee of the Bank of England. Before that he held a number of senior roles at Credit Suisse First Boston, DLJ, UBS and Phillips & Drew. Outside the financial world he has been Chair of the Oxford University Business School, and a non-executive director of an NHS Trust. He is currently a Trustee of the Art Room charity.
For a full list of the charity's trustees please visit the English and Scottish trustees pages.
Notes to editors:
- Sir Hector Sants will serve as the Chairman of the Foundation for Credit Counselling which operates as StepChange Debt Charity, StepChange Debt Charity Scotland, StepChange Voluntary Arrangements and StepChange Financial Solutions
- Lord Wilf Stevenson of Balmacara served as Chairman from 2010-2014