The Financial Conduct Authority’s acting chief executive Tracey McDermott today announced the final appointment to the FCA’s Executive Committee with Georgina Philippou becoming the new chief operating officer.
Philippou has been acting director for enforcement and market oversight and will take up her new role in November. She has over 20 years’ experience of regulation in the United Kingdom and recently played a key role in the FCA’s work on the 40th annual IOSCO Conference in June.
The appointment now means that all executive director positions within the FCA have been filled following the review of strategy, priorities and ways of working in December 2015.
McDermott said: “Georgina brings a wealth of regulatory experience here and overseas that’s invaluable in ensuring that the FCA is able to operate effectively across all its priorities and objectives. As the demands on the organisation increase, it’s imperative that we prioritise effectively and use our resources in the most efficient manner. Georgina’s extensive experience and wide knowledge of the approaches of international regulators means she is well placed to know what we need to be able to perform and deliver value for money at the level expected by ourselves and by the industry.”
The FCA's ExCo now consists of:
- Acting Chief Executive Officer: Tracey McDermott
- Chief Operating Officer: Georgina Philippou
- Director of Enforcement and Market Oversight: Mark Steward
- Director of Strategy and Competition: Christopher Woolard
- Director of Supervision – Investment, Wholesale and Specialists: Megan Butler
- Director of Supervision – Retail and Authorisations: Jonathan Davidson
- Director of Risk and Compliance Oversight: Barbara Frohn
- General Counsel: Sean Martin
McDermott said: “We now have in place an Executive Committee with a range of experience from the industry and regulation both here and abroad. As we implement our new strategy focused on delivering high quality regulation, the mix of experience and fresh perspectives will be invaluable. I’m looking forward to working with the new team.”
Following Philippou's appointment, the FCA confirmed that David Godfrey would become director of finance and operations. The FCA also announced that Linda Woodall would become director of life insurance and financial advice.
