Stephen Haddrill
Encyclopedia
Stephen Haddrill is Chief Executive Officer of the Financial Reporting Council
(FRC) in the United Kingdom.
from 1967 to 1974, Hadrill then studied history
and economics
at New College, Oxford
. During the summer months his first taste of industry started with Findlay Durham & Brodie Electrical Ltd.
He joined the Department of Energy
in 1978, where he worked principally on nuclear power
, and rose to the rank of Principal Private Secretary
to the Energy Minister.
From 1990 to 1994 he worked in Hong Kong
as a member of the Governor’s Central Policy Unit
.
From 1994 until 2005, he had a succession of roles in the Department of Trade and Industry (DTI), as a director of the Competitiveness Unit, Director of Employment Relations, then in Consumer Affairs. In early 2002 he was appointed as Director General of the DTI's Fair Markets Group.
He succeeded Mary Francis
as Director General of the Association of British Insurers
(ABI) on 3 May 2005.
In this role Haddrill has took a close interest in accounting standards, and from December 2008 was the UK representative on the Financial Crisis Advisory Group, an international group of standard-setting bodies coordinating responses to the financial crisis of 2007–2010.
In October 2007, Haddrill was also appointed Vice President and Chair of the Institute for Employment Studies, a leading employment and human resources body in the UK.
The Financial Reporting Council announced in May 2009 that Haddrill would succeed Paul Boyle as its Director General. Sir Christopher Hogg, chairman of the FRC, said Haddrill's experience at the ABI would 'enable him to bring a strong investor perspective to the work of the FRC.' He took up the post in November 2009.
.
in his first interview after taking office at the FRC, Haddrill signalled a change of emphasis from his predecessor on the domination of the accounting profession by the Big Four auditors
. He said that the FRC had looked at the level of competition, and increasing it by creating a fifth large player was not achievable in the near term; his priority was therefore maintaining high standards while also preparing for the possibility of another global firm collapsing. He also criticised the effort to converge international accounting standards with American standards, saying that the focus should be on the quality of international standards.
Haddrill is a keen sailor
.
Financial Reporting Council
The Financial Reporting Council is the UK's independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.-Structure:...
(FRC) in the United Kingdom.
Biography
Educated at Trinity School of John WhitgiftTrinity School of John Whitgift
The Trinity School of John Whitgift, usually referred to as Trinity School, is a British independent boys' day school with a co-educational Sixth Form, located in Shirley Park, Croydon. The current building was constructed in 1965 on the site of the former Shirley Hotel...
from 1967 to 1974, Hadrill then studied history
History
History is the discovery, collection, organization, and presentation of information about past events. History can also mean the period of time after writing was invented. Scholars who write about history are called historians...
and economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
at New College, Oxford
New College, Oxford
New College is one of the constituent colleges of the University of Oxford in the United Kingdom.- Overview :The College's official name, College of St Mary, is the same as that of the older Oriel College; hence, it has been referred to as the "New College of St Mary", and is now almost always...
. During the summer months his first taste of industry started with Findlay Durham & Brodie Electrical Ltd.
He joined the Department of Energy
Department of Energy (United Kingdom)
The Department of Energy was a department of the United Kingdom Government. The Department was established in January 1974, when the responsibility for energy production was transferred away from the Department of Trade and Industry in the wake of the 1973 oil crisis and with the importance of...
in 1978, where he worked principally on nuclear power
Nuclear power
Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity...
, and rose to the rank of Principal Private Secretary
Principal Private Secretary
In the British Civil Service and Australian Public Service the Principal Private Secretary is the civil servant who runs a cabinet minister's private office...
to the Energy Minister.
From 1990 to 1994 he worked in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
as a member of the Governor’s Central Policy Unit
Central Policy Unit
The Central Policy Unit , established in 1989, is responsible for advising the Chief Executive of Hong Kong.-Senior staff:Head, CPU* Professor Lau Siu-kai Deputy Head, CPU* Mr Robin IPMembers...
.
From 1994 until 2005, he had a succession of roles in the Department of Trade and Industry (DTI), as a director of the Competitiveness Unit, Director of Employment Relations, then in Consumer Affairs. In early 2002 he was appointed as Director General of the DTI's Fair Markets Group.
He succeeded Mary Francis
Mary Francis
Mary Francis, CBE LVO, is senior independent director on the Board of Centrica plc and a non-executive director of Aviva Plc and of Cable & Wireless Communications...
as Director General of the Association of British Insurers
Association of British Insurers
The Association of British Insurers or ABI is a trade association made up of insurance companies in the United Kingdom.-History:The ABI began in 1985 after several specialised insurance industry trade associations, including the British Insurance Association, the Life Offices’ Association, the Fire...
(ABI) on 3 May 2005.
In this role Haddrill has took a close interest in accounting standards, and from December 2008 was the UK representative on the Financial Crisis Advisory Group, an international group of standard-setting bodies coordinating responses to the financial crisis of 2007–2010.
In October 2007, Haddrill was also appointed Vice President and Chair of the Institute for Employment Studies, a leading employment and human resources body in the UK.
The Financial Reporting Council announced in May 2009 that Haddrill would succeed Paul Boyle as its Director General. Sir Christopher Hogg, chairman of the FRC, said Haddrill's experience at the ABI would 'enable him to bring a strong investor perspective to the work of the FRC.' He took up the post in November 2009.
Views
In 2007, Stephen Haddrill strongly criticised the Government for failing to tackle the threat of floods. He said he sought to lead the insurance industry and its customers to do more to prevent climate changeClimate change
Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions or the distribution of events around that average...
.
in his first interview after taking office at the FRC, Haddrill signalled a change of emphasis from his predecessor on the domination of the accounting profession by the Big Four auditors
Big Four auditors
The Big Four are the four largest international professional services networks in accountancy and professional services, which handle the vast majority of audits for publicly traded companies as well as many private companies, creating an oligopoly in auditing large companies...
. He said that the FRC had looked at the level of competition, and increasing it by creating a fifth large player was not achievable in the near term; his priority was therefore maintaining high standards while also preparing for the possibility of another global firm collapsing. He also criticised the effort to converge international accounting standards with American standards, saying that the focus should be on the quality of international standards.
Private life
Stephen Haddrill and his wife Joanne live near Tunbridge Wells, Kent. They have two sons.Haddrill is a keen sailor
Sailing
Sailing is the propulsion of a vehicle and the control of its movement with large foils called sails. By changing the rigging, rudder, and sometimes the keel or centre board, a sailor manages the force of the wind on the sails in order to move the boat relative to its surrounding medium and...
.
External links
- Investing in successful innovating businesses, ESRC (article by Haddrill)