The Pensions Regulator has appointed FCA chief operating officer Lesley Titcomb as chief executive.
TPR has been without a permanent chief executive since Bill Galvin quit in March 2013. Titcomb is an FCA board member who has been with the regulator and its predecessors since 1994. She will take up the post from 2 March 2015.
At the FCA Titcomb, who replaces interim chief executive Stephen Soper, was instrumental in the mortgage market review and in transferring consumer credit regulation from the Office for Fair Trading to FCA earlier this year.
She says TPR needs to be a “strong, independent pensions regulator” that is respected for its technical expertise and authoritative voice.
She says: “I relish the opportunity of working with the regulator’s high quality team and with other industry stakeholders to ensure that the changes and new freedoms planned for the pension system deliver clear benefits for retirement savers.”
TPR chair Mark Boyle says: “Lesley brings a wealth of regulatory and operational experience, at a time when The Pensions Regulator’s responsibilities continue to expand.
“Next year will see the introduction of new minimum standards and a charge cap for DC schemes, much greater freedom for members drawing a retirement income, new regulatory responsibilities for public service pension schemes and the roll out of automatic enrolment to small and micro businesses. I look forward to working with Lesley and colleagues at the regulator as we tackle these important challenges.
“I would like to thank Interim chief executive Stephen Soper for his strong leadership during an extremely busy and challenging period, which has seen the successful implementation of the first phase of automatic enrolment and a number of landmark case outcomes for the regulator. Stephen continues to lead the organisation until March.”