The UK will name a former top London cop as the new head of the Serious Fraud Office as it looks to move beyond a series of missteps that have tarnished its reputation.
(Bloomberg) — The UK will name a former top London cop as the new head of the Serious Fraud Office as it looks to move beyond a series of missteps that have tarnished its reputation.
Nick Ephgrave, a former assistant commissioner of the Metropolitan Police Service, will be unveiled as the director of the SFO on Wednesday, according to the government’s Attorney General’s Office. He will start at the end of September for an initial five-year term.
Ephgrave will be the first non-lawyer to lead the SFO. He’s set to succeed Lisa Osofsky, who has been the director since 2018. Her tenure has been criticized after a number of high-profile scandals including botched investigations and trial collapses.
However, Osofsky and the SFO did garner more success going after companies rather than individuals. Last year they secured a £276 million ($351 million) fine from Glencore Plc after it pleaded guilty to coordinating a sprawling effort to bribe government officials for access to oil cargoes across Africa.
“The SFO has a difficult job in a challenging context,” Attorney General Victoria Prentis said in a statement. “Nick is an experienced leader across both law enforcement and the wider criminal justice system.”
The new director faces a number of pending cases. Sanjeev Gupta’s GFG Alliance is currently being investigated over suspicions of fraud and money laundering, while individual charges for ex-Glencore executives are expected to come early next year.
“As an experienced criminal justice leader, he will take forward our fight and help ensure we continue delivering for victims and the public,” Osofsky said in a statement.
Ephgrave stepped down from his role at the Met Police in September, amid a culture problem at the force that led its head, Cressida Dick, to quit. He’s since held a position as the chair of the National Police Chiefs’ Council criminal justice co-ordination committee.
“Serious financial crime impacts victims, their families, and the wider reputation of this country as a safe place to do business,” Solicitor General Michael Tomlinson said in a separate statement. “I welcome Nick to the role and look forward to working closely with him.”
The SFO follows the UK’s financial regulator in tapping up an ex-cop for a top job. The Financial Conduct Authority appointed Steve Smart, a former National Crime Agency executive, to jointly head up its enforcement unit in March.
(Updates with a statement from Osofsky in the seventh paragraph and more detail in the final paragraph)
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