HISTORIC PRESS RELEASE : Morris Review – Consultation Closes and Advisory Panel Announced [October 2004]
The press release issued by HM Treasury on 1 October 2004.
The first meeting of the independent advisory panel appointed by Sir Derek Morris to advise him on the conduct of his independent review of the actuarial profession was held this week following the closure of the Morris Review consultation exercise. The review received over one hundred responses from a wide range or individuals and organisations including individual actuaries, users of actuarial services, professional bodies, actuarial consulting firms, and clients of the Government Actuary’s Department. Commenting on the success of the consultation exercise, Sir Derek said:
“The response to our consultation has been highly encouraging. This is an important exercise that I hope will make a significant contribution to the future development of the actuarial profession itself and to the direction of Government policy towards the profession.”
“I should like to thank all those individuals and organisations that contributed. The review team will read with interest the views that have been expressed and publish an interim assessment paper in the autumn. This will set out the key issues that have been raised in the consultation process and will identify possible options for change.”
The members of the advisory panel are:
Adair Turner: currently chair of the UK Pensions Commission, vice chairman of Merrill Lynch Europe, a director of United Business Media plc, and chair of the UK Low Pay Commission.
Philip Broadley: Group Finance Director and a board member of Prudential plc since 2000. Previously worked for the UK firm of Arthur Andersen where he became a partner in 1993. He is a chartered accountant.
Steven Haberman : Deputy Dean and Professor of Actuarial Science at the Cass Business School, City University. Fellow of the Institute of Actuaries, Royal Statistical Society, Institute of Mathematics and its Applications, and an invited member of the New York Academy of Sciences.
Paul McCrossan; Fellow of the Society of Actuaries and the Canadian Institute of Actuaries. Served on the Council, and as President, of the Canadian Institute of Actuaries. Elected chairman/president of the IFAA, the then international organisation of actuarial associations representing professional actuaries worldwide, in 1995.
Peter Tompkins: partner in the Human Resource Services business of PricewaterhouseCoopers. Heads the practice’s Investment Consulting Business and provides retirement and actuarial advice to a range of investment and insurance clients.
Elaine Kempson: Professor of Personal Finance and Social Policy Research and Director of the Personal Finance Research Center at Bristol University.
Roger Munson OBE: a chartered accountant, formerly a partner with the UK accountancy firm Coopers & Lybrand. Also held a number of other professional responsibilities, including membership of the Accounting Standards Board. Member of the Competition Commission 1996-2003. From 2002 has been an advisory director of Ofwat.
