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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.”


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  1. Shame it doesn’t mention that the much vaunted experience was at the FCA (then named FSA) until 2013. She supervised banks back when they supervised 10 major banks and let 5 fail. She doesn’t seem to have had a proper job since 2000.

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