NEW YORK, Nov. 23 /PRNewswire/ -- J.C. Flowers & Co. (JCF) today announces a significant strengthening of its operations with two senior appointments to its London office. Dr. David Morgan 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.

Dr. Morgan, currently Chairman of J.C. Flowers & Co. LLC in Australia, will be responsible for JCF's investment portfolio across Europe and Asia Pacific. Ravi Sinha, Managing Director at J.C. Flowers & Co. LLC in London, will leave JCF.

Dr. Morgan was Chief Executive of Westpac Banking Corporation, 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 (FSA), will be JCF's first European chairman. Prior to the FSA, Sir Callum was chairman and CEO 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, said:

"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 & Co. 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."

Dr. David Morgan said:

"I look forward to returning to a full time senior executive position and the exciting challenges of this new role. The events of the last two years are significantly reshaping financial services throughout the world. This not only affects JCF's existing investments, but presents significant new investment opportunities throughout both Europe and Asia Pacific. An early focus will be on the UK, where the banking sector is undergoing a major restructuring."

Sir Callum McCarthy said:

"JCF is unique in its expertise and concentration on the financial sector. I look forward to helping apply its ideas, managerial experience and capital to pursue the business opportunities created by the present far reaching changes in the sector."

For further information please contact:
Hillary Ripley
Director of Investor Relations
J.C. Flowers & Co. LLC
Phone: + 1 (212) 404-6838
Email: hripley@jcfco.com

Note to editors

J.C. Flowers & Co. is a global private equity group that focuses solely on the financial services sector. JCF was founded in 1998 by J. Christopher Flowers and has invested approximately $11 billion (A$12 billion) of capital in the sector.

SOURCE J.C. Flowers & Co.

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