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J.C. Flowers strengthens presence in Europe and Asia Pacific

Global private equity firm J.C. Flowers has strengthened its operations with two senior appointments to its London office.


Dr. David Morgan (pictured) has been appointed managing director, JCF Europe and Asia Pacific, and Sir Callum McCarthy has been appointed to the newly-created post of chairman, JCF Europe.

Morgan, currently chairman of J.C. Flowers in Australia, will be responsible for JCF’s investment portfolio across Europe and Asia Pacific. Ravi Sinha, managing director at J.C. Flowers in London, will leave JCF.

Morgan was chief executive of Westpac Banking, one of Australia’s largest financial services companies, between 1999 and 2008. Before joining Westpac, he was senior deputy secretary of the Federal Treasury in Canberra. Following today’s appointment, he has stood down as a director of BHP Billiton.

Sir Callum, formerly chairman of the UK’s Financial Services Authority, will be JCF’s first European chairman. Prior to the FSA, Sir Callum was chairman and chief executive of Ofgem, the economic regulator for the gas and electricity industries. He has also held senior positions at Barclays Bank and BZW and was the UK member of The High-Level Group on Financial Supervision in the EU, established by the EU President to advise on the regulatory response to the present financial crisis, which reported in February 2009.

In addition to his new role with JCF, Sir Callum is also a non-executive director of IntercontinentalExchange and has been nominated as an independent director of Industrial and Commercial Bank of China.

JCF founder and executive chairman J. Christopher Flowers says: "I am delighted to announce these appointments which represent a significant strengthening of JCF’s international resources. David has already made a very valuable contribution to J.C. Flowers in Australia and his disciplined and strategic approach will ensure that JCF can identify new investment opportunities in Europe and Asia Pacific. Working alongside him, Sir Callum McCarthy has extensive banking and regulatory experience and will bring a wealth of skills and experience to the role of Chairman. Together, I am sure that they will form a formidable team."

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