The Financial Conduct Authority (FCA) Appoints Three New Members To The Board

The Financial Conduct Authority (FCA) Appoints Three New Members To The Board

Three new appointments to the board of the Financial Conduct Authority (FCA) have been made by the Economic Secretary to the Treasury.

Liam Coleman, Alice Maynard CBE and Tommaso Valletti will take up roles as Non-Executive Directors to the board of the FCA. Alice Maynard was jointly appointed by HM Treasury and the Department for Business, Energy and Industrial Strategy. They will each serve 3-year terms beginning today, 5 November 2019.

The Economic Secretary to the Treasury, John Glen, said: “The FCA has a vital role in ensuring our financial sector keeps people safe and that firms put customers at the heart of their decisions. So, I am delighted to announce these new appointments to the FCA Board. Their wealth of experience and expertise will be incredibly valuable to the crucial work of the regulator.”

Likewise, Charles Randell, Chair of the Financial Conduct Authority, added: “I’m delighted to welcome such an impressive group of new non-executive directors to the FCA Board.  They have extensive combined experience both in financial services and a range of public service organisations. As the FCA continues to adapt to deliver its Mission effectively in our rapidly changing world, its Board will continue to provide essential support and challenge.”

The new members will bring a variety of experience and knowledge to the Board.

Liam Coleman has held senior leadership roles in banking, including as the CEO of the Co-Op Bank. He is currently chair of Great Western Hospitals NHS Trust.

Alice Maynard has wide ranging experience as a non-executive director and advisor across a range of regulated industries. She is currently a Board member at HMRC and Transport for London and previously was chair of the charity Scope.

Tommaso Valletti is a highly experienced competition and regulatory economist, who has varied experience across academia, multilateral development banks and, most recently, as one of the two most senior competition experts at the European Commission.

The Financial Conduct Authority is the conduct regulator for 59,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms.