Tracey McDermott, Acting Chief Executive, has announced she is leaving the Financial Conduct Authority (FCA) on 1 July 2016.

Andrew Bailey was appointed as the new Chief Executive on 26 January and will take up the position on the 1 July 2016.

Tracey became the Acting Chief Executive in September 2015. She has previously been Director of Supervision and Authorisations and prior to that Director of Enforcement and Financial Crime. Tracey joined the FCA’s predecessor the Financial Services Authority (FSA) in 2001.

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