View more on these topics

Tracey McDermott to exit the FCA

Tracey McDermott FCA 700x450.jpg

Acting FCA chief executive Tracey McDermott is to depart the regulator in July, it has been announced.

PRA chief executive Andrew Bailey, who was appointed to succeed Martin Wheatley on a permanent basis in January, will take over the FCA following her departure.

Bailey will be replaced at the PRA by Sam Woods.

McDermott has been leading the regulator on an interim basis since Wheatley’s departure last Summer.

FCA chairman John Griffith-Jones says: “Tracey has done a terrific job leading the FCA over the last seven months, building on the enormous contribution she has made in her various roles over the previous fifteen years.

“Transitions are always challenging and her energy and clarity of purpose have been invaluable in steering the organisation in the right direction. I know she will continue to lead the FCA with the same commitment until Andrew Bailey arrives in July and I and the Board are grateful for her unstinting support.”

Recommended

FCA logo glass 2 620x430

FCA reveals plans to restructure IPO process

The FCA has outlined potential remedies to the way in which information is provided to investors during the IPO process. In a paper published today, the regulator has suggested tweaks to “blackout” periods, which typically run for 14 days between research on issuers being published by banks, and circulation of the actual prospectus. The FCA […]

stethoscope-laptop-computer-medical-hospital-medicine-700.jpg

NHS scraps controversial cash-for-pension offer

An NHS trust has closed a deal it offered new nurses to opt out of the generous NHS scheme in favour of a higher salary. The Oxleas Foundation Trust in south east London was offering newly-qualified ‘band 5’ nurses the choice of being paid money that would go into the scheme. It was understood staff […]

1

Danby Bloch: Making sense of Osborne’s CGT cuts

The cuts in capital gains tax for most investments are set to make a major difference to tax and investment planning. Just to recap, George Osborne announced in his March Budget the rates of CGT would be reduced by 8 per cent after 5 April for the tax year 2016/17. Most gains that have previously […]

1

Sean McSweeney: End of auto-enrol commission bigger than RDR

The end of pension commission has arrived and the world for corporate advisers has fundamentally changed forever. This will have a more profound effect on corporate advisers than RDR or sunset clause has on their private wealth peers. Acting as a “broker” to distribute other people’s products is not a sustainable business model. Corporate advisers […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. I wonder which bank she will now go and work for?

  2. OR which of the big 4 accountancy practices. (Why they still call themselves accountants is strange when they do so much subcontracting for the regulator).

  3. Forget where she ends up, it just seems a little odd that 2 months ago they were talking of her possibly taking the role permenantly and now she’s off in 3 months.

    To me it looks like their clearing the decks for a possible change of direction!

  4. I loved it when she ruled herself out of taking the top job permanently.Such a obvious piece of self PR. She was never anywhere near in serious contention haha.

  5. Bye Bye !! with a British archers salute

Leave a comment