Expert calls for more transparent banking

Oct 8 2009 by Peter McCusker, The Journal

THE head of one of the region's leading accountancy bodies is in Newcastle today to address its annual dinner.

Martin Hagen, president of the ICAEW (Institute of Chartered Accountants in England and Wales) will be addressing members at the Civic Centre, Newcastle.

Earlier in the day he will be attending the Department for Works and Pensions in Newcastle to meet some of the chartered accountants employed there.

Speaking from the Conservative Party conference, Mr Hagen said it was time for the banks to be more open on their lending policies, with the ICAEW’s members still expressing dismay at the lack of transparency and consistency on their lending to SMEs.

Martin Hagen is also a consultant to Deloitte, having retired as a partner in 2005.

He is a deputy chairman of the Regulatory Decisions Committee of the Financial Services Authority (FSA) and a member of the Audit Committee of the London School of Economics.