The Financial Conduct Authority (FCA) today announced that Martin Wheatley will leave the position of Chief Executive with effect from September 12, 2015.
Mr Wheatley will remain an adviser to the FCA Board until January 31, 2016, with a particular emphasis on the implementation of the Fair and Effective Markets Review, which he co-chaired.
John Griffith-Jones, Chairman of the FCA, commented:
“Martin has done an outstanding job as Chief Executive setting up and leading the FCA over the last four years. We owe him a lot and I and my Board would like to thank him for his great efforts in setting up the organisation and for the contribution he has made to putting conduct so firmly at the top of the financial services agenda.
“We all wish Martin well and I am pleased that we will continue to benefit from his wisdom and expertise over the next few months.”
Martin Wheatley said:
“I am incredibly proud of all we have achieved together in building the FCA over the last four years. I know that the organisation will build on that strong start and work so that the financial services industry continues to thrive.”
In addition, Mr Griffith-Jones announced that Tracey McDermott will be taking over as Acting Chief Executive from September 12, 2015, while the search for a permanent Chief Executive takes place.
Martin Wheatley joined the FSA, the predecessor of the FCA, on September 1, 2011 as the Managing Director of the Conduct Business Unit. Before working at the UK regulator, he was a CEO at Hong Kong’s Securities and Futures Commission. Before this, he held various roles including Deputy Chief Executive of the London Stock Exchange Group plc and sat on the FSA’s Listing Authority Advisory Committee.
To view the official press release by the FCA, click here.