A former Bank of England official, who was involved in the controversial scrapping of the regulator's probe into the culture at UK banks, has been appointed as director of supervision on a permanent basis.
Megan Butler (pictured) joined the Financial Conduct Authority (FCA) on secondment last September to replace Tracey McDermott as director of supervision - investment, wholesale and specialists. She arrived just before Martin Wheatley was forced out of his role as FCA chief executive, after Chancellor George Osborne refused to support his continued place in position. Wheatley was then replaced by McDermott on a temporary basis, while the search for his successor was underway. Two weeks after Wheatley's departure the FCA drew up plans to drop a review of the culture at Britain's biggest...
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