The Financial Conduct Authority’s (FCA) executive director of strategy and competition Chris Woolard has been promoted to interim chief executive of the City watchdog until the Treasury names a full-time appointment.
He replaces Andrew Bailey, who is now governor of the Bank of England.
Woolard (pictured) joined the FCA’s predecessor, the Financial Services Authority, in 2013 and previously worked at Ofcom, the BBC and in the civil service.
He has been involved in key policy developments at the regulator, including changes for the peer-to-peer lending sector such as a clampdown on wholesale lending and the introduction of investor marketing restrictions.
“I’m delighted that I’ve been asked to take on this role,” Woolard said.
“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 chief executive of the FCA is a public appointment that will be decided and made by the Treasury.
“I’m looking forward to working with Chris in his interim chief executive role,” Charles Randell, chair of the FCA, said.
“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.”