FCA names director of investment supervision

Andrew Bailey will find a familiar face when he switches from the Bank of England to run the Financial Conduct Authority (FCA) in just over a month’s time, after a former senior member of his team at the Prudential Regulation Authority (PRA) opted to turn her two-year secondment at the FCA into a permanent move.

The FCA has named Megan Butler as its director of supervision for investments, a role she held in secondment from the PRA.

Ms Butler had previously been executive director of international banks at the PRA before taking on the temporary role as the FCA’s director of investment and wholesale supervision in September last year.

She joined the Bank of England in April 2013 after working for the FCA’s predecessor the Financial Services Authority, where she was head of the department responsible for the supervision of the UK’s major investment banks.

Other senior positions on her CV include head of enforcement law and policy at the Financial Services Authority and head of capital markets at the London Stock Exchange.

Tracey McDermott, acting chief executive of the FCA, said:

I am delighted that Megan has decided to stay at the FCA.  She is an extremely experienced regulator with an excellent reputation in wholesale markets and has established herself as a key member of the FCA’s executive team over the past nine months

Ms Butler commented:

I am very pleased to take on my role as director of SIWS in a permanent capacity. There is a huge amount of interesting, challenging and important work to do and I am excited about the opportunity to continue to shape financial services for the better. Having been here for nine months already, I know I’m leading a talented team.

Read the FCA press release here