The Financial Conduct Authority (FCA) has promoted Sheldon Mills to the newly created role of executive director, consumers and competition.
The post was created last month when the regulator announced it will form a new, single division led by two executive directors.
One will be focused on the FCA’s consumer protection and competition objectives, the other on the objective to protect the financial markets.
Mills was formerly interim executive director, strategy and competition where he led the regulator’s response to ensure industry support for consumers during the pandemic.
Prior to joining the FCA, Mills was senior director at the Competition and Markets Authority (CMA).
He joins the new division with immediate effect and will oversee the regulator’s substantial restructuring of existing senior management responsibilities for consumer outcomes.
Jonathan Davidson, who currently holds some of these responsibilities, will support Mills through the transition before he leaves the FCA in early 2021.
The regulator has also appointed Siobhán Sheridan as chief people officer.
Sheridan joins from the Ministry of Defence where she has been leading an HR team of 200 people and has been responsible for diversity and inclusion strategy at group level for defence.
She will take up her post from the end of March 2021.
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“I am delighted that Sheldon Mills will be the FCA’s first executive director, consumers and competition and also to welcome Siobhán Sheridan to the FCA as chief people officer,” said Nikhil Rathi, chief executive of the FCA.
“Sheldon has played a crucial role in supporting consumers during the pandemic. I know that Sheldon will bring his knowledge, leadership skills and passion for consumer issues to shape the newly established division and motivate those who work in it to ever higher standards.
“Siobhán will bring a wealth of experience of leading on people issues in both financial services and public service organisations to the FCA.
“Her alignment with our values, knowledge of using data to drive people strategy and her commitment to diversity and inclusion make her a great fit for the FCA.
“I am confident that she will make a significant contribution to our ongoing transformation programme and strengthening FCA capabilities.”