Finance director roles do not drive businesses, according to the new chief executive of investment banking firm JP Morgan Cazenove.
Naguib Kheraj told Accountancy Age he turned down several
finance director jobs before his new appointment as they have "less influence".
He gave up a position of
finance director for Barclays Bank in 2006 and claims he will not return to a similar position "any time soon".
Mr Kheraj told the website that a chief executive role is "more the driver of the business".
"I've been approached for a number of
finance director jobs, but if I'd wanted to stay as a
finance director, I would have stayed at Barclays," he added.
"It's one of the finest
finance director jobs in the world."
Accountancy Age recently reported that the Ministry of Defence is set to offer its next
finance director almost double the pay of the last person to hold the role, totalling over £250,000 plus bonuses.
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