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UK: Internal FCA review leads to 3 senior departures

 |  December 8, 2014

Three senior officials at the UK’s Financial Conduct Authority have departed the agency following an internal review of its structure and organization, say reports.

Director of Supervision Clive Adamson, as well as committee members Zitah McMillan and Victoria Raffe, are reportedly slated to leave the FCA. The news regarding Adamson has made headlines this week; the official, who served at the FCA for seven years, may be replaced by the FCA’s current Head of Enforcement Teacey McDermott, according to reports. McDermott lead the fight against anticompetitive banks, as well as the foreign exchange manipulation case that lead to billions in fines.

The Authority, which preceded the Financial Services Authority in 2011 to promote competition in the financial services sector, announced a review of its structure following input from external reviews, say reports.

Full content: City AM

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