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UK Regulator FCA Appoints Six Directors to Bolster Three-Year Plan

source-logo  financemagnates.com 05 July 2022 14:31, UTC

The Financial Conduct Authority (FCA), the United Kingdom’s financial industry watchdog, has selected six directors to help bolster its three-year strategic plan. 

The appointed directors are Roma Pearson, a Head of Department in the Risk and Compliance Oversight Division of FCA; Camille Blackburn, the Global Chief Compliance Officer of Legal & General Investment Management; and Matthew Long, a director within the National Economic Crime Command of the National Crime Agency. 

The three other chosen directors are Anthony Monaghan, the Head of Retail and Regulatory Investigations at FCA’s Enforcement and Market Oversight Division; Karen Baxter,  a former National Coordinator for Economic Crime at the City of London Police; and Simon Walls, the FCA’s interim Director.

Positions and Roles

Pearson, who will take up his appointment in July, is to serve as the regulator’s Director of Consumer Finance. 

In the role, the long-time FCA staff member will help to lead the watchdog’s supervision and policy development in the consumer lending and mortgages sectors. 

Blackburn will resume office in October as the Director of Wholesale Buy-Side, a newly created role.

She is to oversee FCA’s effective supervision and policy development in asset management, custody banks, investment research and alternative investments.

Long will become the Director of Payments and Digital Assets,  also a newly-created role. 

He is to resume in October to spearhead the regulator’s activities in electronic money, payment and crypto-asset markets. 

Monaghan, who has been acting as the Director of Retail and Regulatory Investigations since April 2021, has been cleared to act on a permanent basis.  

Anthony's new appointment is a promotion to further take charge of FCA’s regulatory investigations into the banking, insurance, financial advice and personal pensions industries, among others.

Baxter is set to become the Director of Strategy, Policy and International Intelligence in September, to support the watchdog’s enforcement and market oversight activities.

Walls, who has been acting in an interim capacity, will now act as the Director of Wholesale (Sell-Side) on a permanent basis. 

Meanwhile, Richard Lloyd in June took over the reins of FCA from Charles Randell as the FCA Interim Chair. 

FCA also recently expanded its senior leadership team with important appointments, including selecting Walls as an Interim Director.

 ‘Ambitious Strategy’

Nikhil Rathi, the Chief Executive Officer of FCA, noted that the appointments are important to help the regulatory body achieve its three-year plan

The plan, which extends from 2022 to 2025, is to reduce and prevent serious harms to consumers; set higher standards for products; and promote competition and positive change with greater regulatory open-mindedness.

“As our remit grows and to deliver on our ambitious strategy, we’re continuing to develop and bring in the skills and talent we need,” said Rathi.

“My Executive Committee colleagues and I are delighted to announce the latest additions to our leadership team, who will each bring deep expertise and broad experience to the FCA,” the CEO added