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July 24, 2020updated 28 Jan 2021 8:11am

UK’s FRC appoints two executive directors

By Joe Pickard

The UK’s Financial Reporting Council (FRC) has appointed two executive directors following an extensive open recruitment process.

Mark Babington has been appointed Executive Director, Regulatory Standards, while Alex Kuczynski has been appointed executive director, corporate services and general counsel.

Babington has been acting executive director on an interim basis since the beginning of April and has experience in public and technical policy, particularly in audit and ethics, both within the FRC, and before that as a director at the National Audit Office.

Kuczynski joins from the Financial Services Compensation Scheme where he most recently served as the chief corporate affairs officer and director of corporate affairs and a board director. 

FRC CEO Jon Thompson said: “I am very pleased that we have appointed such high calibre candidates to these key roles. I know that they will build on the strong talent in each of their divisions and the collaborative strength of the FRC as we respond to a dynamic and changing landscape and focus on delivering our transition into the new Audit, Reporting and Governance Authority.”

Babington said: "I am thrilled to have the opportunity to lead the FRC’s Regulatory Standards Division. We are a growing team of technical and policy professionals, who act in the public interest to improve the quality of audit, corporate reporting, corporate governance and stewardship and actuarial work in the UK. We also lead the FRC’s stakeholder engagement and outreach to ensure that our work reflects our stakeholders’ needs and our sphere of influence.”

Commenting on his appointment, Kuczynski said: “I am delighted to be joining the FRC at this key stage in its transformation to becoming a new regulator. The breadth and depth of the FRC’s activities and scope make this role an especially fascinating and challenging one as the Corporate Services team play a key role in supporting the delivery of the FRC’s success and influence.”

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