FCA appoints new director of enforcement

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The FCA has appointed Mark Stewart as director of enforcement and market oversight.

The role is currently being carried out by Georgina Philippou on an interim basis. She took over after a leadership restructure announced in December saw director of enforcement and financial crime Tracey McDermott become director of supervision.

Stewart is currently head of enforcement at the Hong Kong Securities and Futures Commission and will take on his new role in the autumn.

An FCA spokesman could not confirm what Philippou’s next role will be.

The regulator has also announced that Barbara Frohn will become director of risk and compliance oversight.

Frohn is managing director of Banco Santander and currently on secondment to the Institute of International Finance in Washington, D.C.

She will take over from interim director of risk and compliance oversight Richard Sutcliffe in the autumn.

FCA chief executive Martin Wheatley says: “These are two vital roles within the UK regulatory system and it says a lot about the FCA that we have been able to attract such high calibre candidates to fill them. Mark and Barbara have built up excellent reputations for their work in financial services across the globe, and I am delighted they have chosen to bring their experience to the FCA.”

The FCA has also announced that Marc Teasdale will become director of market oversight within the enforcement and market oversight division, and Jo Hill will become director for markets intelligence, data and analysis. Andrew Whyte has been named director of communications within the strategy and competition division.

Wheatley adds: “While the FCA has been able to attract some of the best people from outside, we also have highly talented, hard-working people within the organisation and Marc Teasdale, Jo Hill and Andrew Whyte will be taking on roles that will be vital to the organisation successfully delivering its objectives and priorities for the years ahead.”