Former Direct Line chief operating officer Jonathan Davidson has been appointed to the new FCA role of director of supervision for retail and authorisations.
The position was created as part of the regulator’s “new strategic approach”, sitting alongside Tracey McDermott who is director of supervision – investment, wholesale and specialist.
Davidson is currently an adviser to private equity and financial services firms and is part of insurer and employee benefit consultant Jardine Lloyd Thompson’s strategic advisory group.
He will take up his post in the autumn.
FCA chief executive Martin Wheatley says: “This appointment is another example of the FCA being able to attract the best talent from across the financial sector. Jonathan has experience of working across the globe as well as in the United Kingdom.
“Given the increase in our supervisory work in retail over the last two years, this is an incredibly important role and I look forward to working with Jonathan.”