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Economic adviser

26 Nov 08

ICAS has appointed a senior CA from the banking world as its Chief Economic Adviser. Hugh Shields took up the post on 3 November

David Wood, Executive Director, Technical Policy with ICAS said: “This is a part time position which is already greatly enhancing the Institute’s ability to contribute to the debate on issues arising from the recent financial crisis.”

Shields has spent the past six years as a director at Barclays Capital, the investment banking division of Barclays Bank.

He qualified as an accountant with KPMG London and subsequently qualified as a corporate treasurer with Mobil Oil. He has worked at a number of other banks, including the Central Bank of Oman where he was a government adviser on finance matters.

Shields, pictured, chairs the ICAS Accounting Standards Committee and chaired the Institute's study Principles not Rules: a Question of Judgment on the case for principles-based accounting.

He has been a member of the financial instruments working group of EFRAG, the body responsible for advising the European Commission on endorsement of international accounting standards. He is a member of the audit committee of the Church Commissioners for England.

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