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Minghella leaving as FSCS chief

Financial Services Compensation Scheme chief executive Loretta Minghella is stepping down next spring after five years in the role.

She will leave the position at the end of February but will stay with the FSCS as special adviser to the board until the end of August.

The FSCS is yet to name a replacement. Minghella has been chief executive since December 2004. She was previously the FSA’s first head of enforcement law, policy and international co-operation.

Chairman David Hall says: “Loretta has steered the organisation skilfully through extraordinary times, overseeing the delivery of over £21bn of compensation in a number of innovative ways.”

Bill Warren Compliance managing director Bill Warrren says: “She has done a fair job in building the scheme up. In terms of a replacement, legal experience is a huge help but I am very much in favour of an industry professional, whether they come from mortgages or investments.”

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