FCA recruits supervision boss from PRA

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The FCA has appointed a new director of supervision to replace Tracey McDermott.

Megan Butler will join the FCA on secondment for a year from the Prudential Regulation Authority from 1 September. She is currently executive director of the PRA’s international banks directorate.

Butler will replace McDermott, who is set to become acting chief executive following Martin Wheatley’s departure, on 12 September.

Wheatley says: “I am delighted that Megan has decided to join the FCA. She brings with her a wealth of experience and an excellent reputation in wholesale markets and will be a valuable addition to the executive team.”