View more on these topics

FSCS begins hunt for new chief executive

FSCS-Piggy-Bank-500x320.jpgThe Financial Services Compensation Scheme has outlined a three-month plan to recruit a new chief executive officer to replace the outgoing head of the lifeboat fund Mark Neale.

Neale has held the position at the top of the FSCS since 2010 and will leave to pursue “new challenges” next May when his current third three-year term ends.

Recruitment agency Odgers Berndtson is working with the FSCS to appoint a replacement for the position.

Speaking to Money Marketing, the FSCS confirms the external applications window for the position that opened on 23 October will close this month.

Internal applications are also being considered, the FSCS confirms.

A long list of candidates will be created within a few weeks, before a short list in December to be followed by candidate testing.

An FSCS spokesman says both the interviews of final candidates and a formal offer will be made in January.

He says: “As per the timetable, we hope that the new chief executive will be confirmed in good time before Mark Neale is due to leave in May.”

The advertisement for the role calls for an “exceptional leader” to raise public confidence in the financial services industry.

FSCS chief executive Mark Neale steps down

The outline also states the chief executive is expected to continue to collaborate proactively with regulators and share information and intelligence to limit future failures.

Candidates are expected to have significant leadership experience, rather than specific experience in the financial services industry.

Ability to lead change in complex environments is also listed.

A specific salary for the position is not outlined.

The appointment of a new chief executive in the new year will require the approval of the FCA, the Prudential Regulation Authority and Treasury.



How much are advisers charging for pension transfers?

Defined benefit pension transfer charges are being put under the microscope again as the regulator turns over more potential conflicts of interest. With the British Steel Pension Scheme the latest to dominate headlines and the FCA ready to interrogate further as it extends its review to include all firms authorised to give pension transfer advice, […]


Standard Life Aberdeen begins share buyback after Phoenix deal

Standard Life Aberdeen has begun buying back shares from investors after selling its life arm to Phoenix. According to a stock exchange announcement this morning, SLA has purchased nearly 770,000 ordinary shares from Merrill Lynch International at an average price of 318p a share, costing SLA around £245m. The announcement adds that SLA intends to […]

AFH Alan Hudson 700

AFH secures record aquisition of £230m firm

Advice firm consolidator AFH has shelled out £7.7m on its 16th acquisition of the year, which will bring a further 2,500 clients to its business. The group has announced its  acquisition of Mainstone-based Core Financial Services. The deal adds £230m to AFH’s funds under management and is the largest in its 27-year history and was […]


FCA: Tell clients about post-Brexit changes to service

The FCA has told firms to make clients aware of changes to products and services that will come about after Brexit. Speaking at the Third UK Brexit summit, FCA international director Nausicaa Delfas said while the regulator is preparing for all the possible scenarios, they expect individual firms to do the same. Delfas (pictured) says: […]

Current multi asset positioning

As we head into the final quarter of 2018, Nersen Pillay, Investment Director at Royal London Asset Management, sets out our current multi asset positioning. He reflects on the changing global environment that we have seen across the year so far and explains the impacts that a strong US dollar is having on regions. Read […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm