Tyrie Back for New Term to Head U.K. Parliament Treasury Panel

Andrew Tyrie, the Conservative lawmaker who headed the Treasury Select Committee before this year’s election, is set to be reappointed after no one challenged him, according to a person familiar with the workings of the panel.

Tyrie will lead the TSC in this parliamentary session, which is scheduled to last five years. His appointment will be confirmed later Wednesday, according to the person, who asked not to be identified because the announcement is not yet public.

The member of Parliament for Chichester, southern England, made a name for himself by taking bankers to task after the financial crisis. He masterminded the Parliamentary Commission on Banking Standards’ investigation into the failures of the financial industry. Its proposal to introduce a criminal offense for mismanagement, which could see executives of failed firms facing imprisonment, was endorsed by Prime Minister David Cameron.

Under his stewardship of the TSC, Tyrie supervised the grilling of former Barclays Plc Chief Executive Officer Robert Diamond, whose testimony he dismissed as “somewhat implausible.” More recently, he questioned HSBC Holdings Plc Chairman Douglas Flint and CEO Stuart Gulliver over allegations the lender helped its clients evade tax though its Swiss private banking unit.

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