The FCA’s former director of communications Zitah McMillan, who stepped down in the wake of the Davis review, has taken a senior role at a major payday lender.
McMillan joined DFC Global Corp, whose operations include The Money Shop, in January as international chief executive.
She will head up the firm’s operations globally, excluding the UK, US and Canada. Her remit will mainly cover Eastern Europe, Spain and Scandinavia.
DFC’s corporate entity in the UK, Dollar, is the UK’s second largest payday lender. It operates under the trading names of Payday UK, Payday Express, The Money Shop and Ladder Loans.
The FCA announced McMillan and former director of supervision Clive Adamson were leaving as part of a restructure in December.
A week later, the findings of a review into the FCA’s handling of a bungled media announcement which caused insurers’ share prices to tumble in March singled out McMillan, Adamson and other executives for criticism.
McMillan told Clifford Chance partner Simon Davis, who carried out the inquiry, that she did not know of or authorise the ill-fated briefing to the Daily Telegraph. However, the media associate who arranged the briefing and his manager said she did know.
McMillan also said she understood interviews with journalists were always recorded. This was not the understanding of the media manager or the associate, who said he had never recorded an interview with a journalist. The Telegraph interview was not recorded.
In July, Dollar was ordered by the FCA to carry out a skilled person report and refund £700,000 in interest and default charges to customers.