Martin Wheatley's exit: Osborne says 'different leadership' needed

Wheatley's position on the FCA board was up for renewal in March 2016 and was not renewed by the Chancellor, a source close to the regulator told Professional Adviser. Chancellor George Osborne has since released a statement saying "different leadership is required" at the helm of the watchdog. The Treasury is now conducting a worldwide search for the next CEO, who will be staying on in an advisory capacity into the New Year. Current head of supervision Tracey McDermott will be taking over as acting chief executive from 12 September while the search for a permanent chief executive ...