McCarthy has held various high-profile private sector and government regulatory positions:[4]
1965 – Economics researcher at chemical corporation
ICI for seven years on graduating in 1965.
1972–85 – Several posts at the
Department of Trade and Industry including Principal Private Secretary to
Roy Hattersley when he was Secretary of State for Prices and Consumer Protection and to
Norman Tebbit when he was Secretary of State for Trade and Industry.[3]
1985 – Director of Corporate Finance at investment bank
Kleinwort Benson
1989 – managing director and Deputy Head of Corporate Finance of
Barclays' investment banking arm, BZW. McCarthy later become chief executive officer of
Barclays Bank group operations in Japan before moving to head the Bank's businesses in North America.
September 1998 – Appointed by
Peter Mandelson to become Director-General of the gas regulator
Ofgas.[5]
1999 – Chief Executive of new energy super-regulator
Ofgem, where he oversaw the introduction of greater competition into the gas and electricity markets[3]
^
abcColin Robinson, ed. (2004). Successes and Failures in Regulating and Deregulating Utilities: Evidence from the UK, Europe and the USA. Edward Elgar Publishing. p. xi.
ISBN1845420780.
^Arminas, David (6 April 2000).
"The generation game". Supply Management. Redactive Media Group on behalf of the Chartered Institute of Purchasing & Supply. Retrieved 29 April 2013.
^"Who we are". Castle Trust. Retrieved 29 April 2013.