TOP NEWS: FCA Head Of Strategy & Competition Appointed As Interim Boss

(Alliance News) - The UK Treasury on Friday named Christopher Woolard as interim chief executive ...

Alliance News 24 January, 2020 | 10:36AM
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(Alliance News) - The UK Treasury on Friday named Christopher Woolard as interim chief executive officer of the Financial Conduct Authority.

Woolard is currently the FCA's executive director of Strategy & Competition and an executive member of the FCA's board. He is expected to take up the role on March 16, and will hold the position until a permanent successor is found.

Woolard is stepping into role as outgoing chief Andrew Bailey is leaving to head up the Bank of England. Bailey's tenure at the BoE will begin on March 16.

Bailey has been head of the Financial Conduct Authority since July 2016. Before that, he was chief executive of the Prudential Regulation Authority.

FCA Chair Charles Randell said: "I'm looking forward to working with Chris in his interim chief executive role. I'm confident that he and executive committee colleagues will continue to deliver our ambitious plans for change in 2020 and beyond, building on the foundations laid by Andrew Bailey."

Woolard has been with the FCA since 2013, helping to create the financial services industry regulator. Prior to this, he was at the broadcasting, telecommunications and postal regulator Office of Communications from 2009 to 2012. He worked for the BBC for 4 years before this.

He said: "I'm delighted that I’ve been asked to take on this role. We have a huge job to do and I'm looking forward to working with the board and colleagues across the FCA as we continue to deliver the FCA's mission."

The Treasury will be running an open competition to find a permanent replacement for Bailey, and will announce further details in due course.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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