Listing Authority Advisory Panel

This non-statutory panel advises the FCA on policy issues that affect issuers of securities, and on policy and regulation proposals from the FCA listings function.

Biographies of Panel members

Annemarie Durbin (Chair)

Throughout Annemarie's executive career spanning 30 years, she gained broad international banking experience across Asia, Africa and the Middle East. This culminated in Annemarie being a member of Standard Chartered Group's Executive Committee, the body that shaped the group's overall strategic direction and execution priorities. She undertook a wide variety of roles during her 20 year tenure at Standard Chartered including oversight of a number of global functions, including Chief Executive Officer of the bank's operations in the Philippines and Thailand. In addition, she held various other business leadership roles in retail, commercial and institutional banking.

Annemarie is an independent Non-Executive Director on the boards of Santander UK plc and WH Smith plc. She chairs the Remuneration Committee and serves on the Audit and Risk Committees for Santander UK Plc and the Audit, Remuneration and Nomination Committees for WH Smith plc. 

Annemarie qualified and practiced as a barrister and solicitor in New Zealand and is also a qualified solicitor in the UK. In addition she is qualified and practises as an executive leadership coach and is an accredited mediator.

Gary Admans

Gary is Head of the Capital Markets team at BP plc. He has worked for BP within the Treasury team for the past 21 years. On joining, he initially worked in the Risk Management team managing BP’s foreign exchange exposures before moving to the Capital Markets team, which is responsible for all aspects of its equity and debt activities.

Prior to joining BP, he worked within the banking sector concentrating on the new issue and derivatives markets where he had several trading and risk management roles.

Mark Austin

Mark is a partner in the Capital Markets Practice at Freshfields. His areas of practice include public and private securities offerings of all types, along with mergers, acquisitions and general corporate work across a number of sectors. He regularly advises a range of corporate and investment bank clients. He is also a member of the LSE's Primary Markets Group, an advisory group to the LSE on capital markets matters, as well as of the Company Law Committee of the City of London Law Society.

Luke Chappell

As Managing Director and Portfolio Manager at BlackRock, Luke is head of the UK Equity team within the firm's Fundamental Equity Division of the Active Equity Group.

Luke's service with the firm dates back to 1998, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. At MLIM, Luke was an Equity Portfolio Manager, responsible for managing UK specialist equity portfolios. Prior to joining MLIM, he worked at another investment management house in a range of research and fund management roles, with particular emphasis on specialist accounts and mid-cap stocks. He earned an MA degree, with honours, in classics from Christ Church, Oxford University in 1990.

Darko Hajdukovic

Darko is Head of Analytics, Fixed Income and Funds for the London Stock Exchange’s Capital Markets division responsible for the primary market offering for international companies, debt and investment funds and has extensive experience in equity and fixed income transactions on public markets. Darko joined the Exchange in 2007 as Debt Product Manager looking after the primary fixed income business.

Prior to the London Stock Exchange, Darko was an independent consultant specialising in financial regulation and regulatory economics. His previous engagements included projects on assessing the effectiveness of EU regulation and its impact on the economic development and sector research covering telecommunications, manufacturing and tourism.

Darko holds a doctorate in economics from the University of London and is a member of the Royal Economic Society.

Ian Hart

Ian has 25 years experience of working in investment banking, at S.G. Warburg, Citigroup, Morgan Stanley and UBS. He has focused on UK mergers and acquisitions across a number of sectors, with a particular focus on clients in consumer and retail, financial services and natural resources. He has also worked on a number of UK initial public offerings in these sectors, along with equity raising and other listing related matters in connection with his mergers and acquisitions transactions. Ian has also served on the Corporate Finance Committee of Association for Financial Markets in Europe for a number of years.

James Laing

James is Deputy Head and Head of Corporate Governance for UK and European Equities at Aberdeen Asset Management. He joined Aberdeen in 2000, was appointed Deputy Head of UK and European Equities in July 2009 and Head of Corporate Governance for UK and European Equities in May 2016. He graduated with a BSc (Hons) in Agriculture from Newcastle University and an MSc in Investment Analysis from the University of Stirling. He is also a member of the Association for Investment Management and Research.

​​​Linda Main

Linda is a Partner in Transaction Services and is Head of the Capital Markets Group, London for KPMG. She is an Associate of the Institute of Chartered Accountants in England and Wales and obtained a BSc (Hons) from Birmingham University.

Linda joined KPMG in 1984 and worked in audit until 1995. From 1995 to 1997 she was seconded to the London Stock Exchange where she worked in the Listing Group (now the UKLA), reading and approving listing documents and advising companies on the application of the listing rules. On returning to KPMG in 1997, Linda joined Transaction Services and has been a Partner since 2001. She leads KPMG’s Capital Markets Group and her primary focus is on helping clients prepare for life as a listed company, along with acting as reporting accountant for initial public offerings of all sizes including companies from the US, Far East and Europe.

Michelle McGregor Smith

Chief Executive Officer and Chief Investment Officer at British Airways Pension Investment Management Limited (BAPIML). BAPIML manages a broad range of assets, predominantly through an in-house team of 40 on behalf of two defined benefit schemes, both now closed to new members.

Michelle joined BAPIML as an Equity Portfolio Manager. She became Head of UK Equities and was also involved in a number of hedging transactions for the funds before moving to her current roles. She is responsible for the day to day management of around £17bn of pension assets invested in a broad range of asset classes and assists the Trustees and their Investment Committee on new investment ideas and strategic issues, including de-risking and liability management.

Michelle is also an advisor to the Investment Committee of the Daily Mail and General Trust Final Salary Schemes and is Chairman of the Investor Steering Committee of the Alternative Investment Managers Association.

She is a Chartered Financial Analyst charter holder and a member of the UK Advisory Council which assists the Chartered Financial Analyst society to best serve its members.

Ursula Newton

Ursula is a partner in the PwC Capital Markets Group and brings 15 years of specialised capital markets experience to the Listing Authority Advisory Panel. She has extensive experience of working with companies operating in London capital markets including a significant number of major listings and class 1 transactions. Ursula has also worked with companies seeking overseas listings, including the USA, Hong Kong and Singapore, which also gives her an understanding of the differences in regulation across other markets.

Andrew Pinder

Andrew is Head of UK Investment Banking at Investec and is a member of the Executive Committee of Investec’s UK Corporate and Institutional Bank. He advises companies across the full range of equity capital markets and M&A transactions, with a particular focus on the TMT sector. Andrew qualified as a Chartered Accountant with PricewaterhouseCoopers and holds a Law degree from Exeter University. Before joining Investec in 2002, Andrew was at Soundview Technology Group and Dresdner Kleinwort Benson. 

Aileen Taylor

Aileen is a qualified solicitor who joined RBS in 2000. She is the Chief Governance Officer and Board Counsel of RBS, having previously been appointed Company Secretary in 2010. She was appointed Deputy Group Secretary and Head of Group Secretariat in 2007, and prior to that held various legal, secretariat and risk roles including Head of External Risk, Retail, Head of Regulatory Risk, Retail Direct and Head of Legal and Compliance at Direct Line Financial Services. 

Aileen is also a fellow of the Chartered Institute of Bankers in Scotland and a member of the European Corporate Governance Council.

Amanda Thomas

Amanda has been a partner at Allen & Overy LLP since 2007 and heads up the International Capital Markets Know-How & Training team, in which role she is responsible for the development and management of internal and external knowledge resources and training programmes. She is actively involved in many industry working groups on debt capital markets related issues, including the impact of the Prospectus Directive, Transparency Directive, Markets in Financial Instruments Directive (MiFID) and the Markets Abuse Regulation (MAR) on the markets. Prior to taking on a knowledge role, Amanda worked as an associate at Allen and Overy gaining experience of a wide range of international capital markets transactions, including vanilla debt issues, ECP, Global CP and EMTN Programmes, structured and equity linked issues and covered warrant issues. 

Tim Waddell

Tim is Vice Chairman, Global Corporate and Investment Banking for EMEA at Bank of America Merrill Lynch. He is responsible for relationships with key UK clients across the corporate broking and advisory business. Tim has spent over 30 years in investment banking. He joined Bank of America Merrill Lynch from UBS, having started his career at SG Warburg. At UBS, he held a number of senior positions in the UK Investment Banking business, latterly Chairman of UK Coverage and Advisory. He has experience of providing market advice across a comprehensive range of transactions. Tim graduated in law from Edinburgh University.