Tracey McDermott tipped as next FCA chief exec - report

McDermott likely to replace Martin Wheatley

clock • 1 min read

Tracey McDermott is likely to be appointed as chief executive of the Financial Conduct Authority (FCA) within weeks, according to the Sunday Times.

The paper said on 3 January McDermott, the current acting CEO, was the frontrunner to be named Martin Wheatley's successor. It added the appointment was likely to be made within weeks. The report said the FCA was under pressure after it decided to scrap a key review into culture at the country's largest banks. It made the announcement last week. McDermott took over as acting chief executive of the FCA after Wheatley was pushed out by Chancellor George Osborne. "Tracey has proven to be a really strong regulator," the chief executive of one British lender told the Sunday Times. "It's...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Rachel Reeves reveals 'most wide-ranging reforms' in Mansion House speech

Rachel Reeves reveals 'most wide-ranging reforms' in Mansion House speech

Includes redress changes and wholesale Consumer Duty review

Cristian Angeloni
clock 16 July 2025 • 3 min read
FCA and Treasury consult on senior managers regime reform

FCA and Treasury consult on senior managers regime reform

First phase intended to ‘reduce burden’ on firms

Jen Frost
clock 15 July 2025 • 5 min read
FCA data request prompts SimplyBiz's sector-wide compliance session

FCA data request prompts SimplyBiz's sector-wide compliance session

Nearly 600 advisers sign up for July webinar on navigating new s165 data requirements

Sahar Nazir
clock 09 July 2025 • 2 min read