FCA’s Tracey McDermott named in Queen’s honours list

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FCA acting chief executive Tracey McDermott has been named in the Queen’s honours list.

McDermott has received a CBE in the honours list for the Queen’s 90th birthday celebrations, for services to financial services consumers and markets.

She is joined by Phillip Monks, the chief executive of challenger Aldermore, who received an OBE in the list.

David John Whiting, tax director at the Office of Tax Simplification, also received a CBE for services to tax simplification.

McDermott had been widely tipped to be appointed FCA chief executive on a permanent basis, following former head Martin Wheatley’s departure.

However, she announced at the start of the year that she was withdrawing from the chief executive appointment process, and will now stand down from the regulator when new chief executive Andrew Bailey joins next month.