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Screenshot of a breaking news alert e-mail from Q2 2017
Tracey McDermott, Acting Chief Executive of the Financial Conduct Authority (FCA), has today announced that she will leave the UK regulator on July 1, 2016.
The announcement comes after in January this year, Ms McDermott announced her decision to abandon the race for the permanent Chief Executive position at the FCA but would continue as Acting Chief Executive until a permanent replacement was in post.
Andrew Bailey was named FCA’s Chief Executive on January 26, 2016, and is due to assume the position on July 1, 2016.
Commenting on Ms McDermott’s decision, John Griffith-Jones, Chairman of the FCA, said:
“Tracey has done a terrific job leading the FCA over the last 7 months, building on the enormous contribution she has made in her various roles over the previous 15 years. Transitions are always challenging and her energy and clarity of purpose have been invaluable in steering the organisation in the right direction. I know she will continue to lead the FCA with the same commitment until Andrew Bailey arrives in July and I and the Board are grateful for her unstinting support.”
For the full announcement from the FCA, click here.