Former UK accounting watchdog chairman Simon Dingeman joins Carlyle Group

From: AltAssets

Simon Dingemans has joined US private equity firm Carlyle Group as its managing director in charge of UK buyouts just months after he stepped down as chairman for the British Financial Reporting Council (FRC).

Dingeman had joined the FRC in July 2019 to oversee its transformation to the Audit Reporting and Governance Authority (ARGA) after the regulator faced massive criticism for oversights in its audit. However, Dingeman shockingly announced his departure from the body in May 2020.

In a statement, issued by the FRC, it was revealed that his exit was due to him not being able to take on additional roles that did not conflict with his job as chair.

Before joining the FRC, he spent eight years as CFO at GlaxoSmithKline, the pharmaceutical company.

“This has not proved possible and so it is with regret that Mr Dingemans has informed the Board and the Secretary of State that he intends to step down from the FRC at the end of May,” the statement said.

In his new role, Dingeman will work closely with European Buyout Co-Heads Marco De Benedetti and Gregor Boehm.

De Benedetti and Boehm said in a joint statement that they were delighted to welcome Dingeman to Carlyle and to “benefit from his unique background in investment banking and as a FTSE 100 CFO.”

“His appointment strengthens our existing UK team, adding seniority to a country which is strategically important to Carlyle, and his significant healthcare expertise will provide valuable insights across European opportunities,” they continued.

SDingemans said, “I am excited to be joining the Carlyle team and look forward to applying my operational and financial experience to drive value across the existing portfolio as well as finding attractive new opportunities in the UK and the European healthcare sector.”

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