The Financial Services Authority has hired Barclays' former finance director to advise it on enforcing the recommendations of its own review into the way it handled the collapse of Northern Rock.
Naguib Kheraj, who was finance director at Britain's third-biggest bank between 2004 and March last year, will join the City watchdog on a part-time basis from Monday.
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Mr Kheraj uses his financial knowhow for the benefit of the Wellcome Trust, where he is a member of the investment committee, and is on the executive committee of Her Majesty's Revenue & Customs. He is also a governor of the Institute of Ismaili Studies, which promotes Islamic scholarship, and is the chairman of the Aga Khan Foundation's UK branch.