Financial Conduct Authority acting chief executive Tracey McDermott is to leave the organisation on 1 July, the regulator announced today.
McDermott (pictured) became the acting CEO in September 2015, after Martin Wheatley was ousted by the Chancellor.
Andrew Bailey, deputy governor for prudential regulation at the Bank of England and chief executive of the PRA, was announced as the new chief executive of the FCA in January.
On 7 January, 2016 McDermott announced she had decided in early December 2015 to withdraw from the process to appoint the permanent chief executive of the FCA but would continue as acting chief executive until a permanent replacement was in post.
McDermott previously acted as director of supervision and authorisations and prior to that director of enforcement and financial crime.
She joined the FCA's predecessor, the Financial Services Authority (FSA), in 2001.
FCA chairman John Griffith Jones said: "Tracey has done a terrific job leading the FCA over the last seven months, building on the enormous contribution she has made in her various roles over the previous fifteen years.
"Transitions are always challenging and her energy and clarity of purpose have been invaluable in steering the organisation in the right direction. I know she will continue to lead the FCA with the same commitment until Andrew Bailey arrives in July and I and the Board are grateful for her unstinting support."
More than half of BlackRock’s flagship UK defined contribution (DC) default fund’s assets will be invested in ESG strategies by June 2021.
Graeme Bold says the right communications can improve both the level of savings and the outcomes for savers.
More than half of UK savers agree they are unable to save sufficiently to achieve the retirement they want, according to research by BlackRock.