A PYMNTS Company

UK: Top OFT exec announces departure

 |  January 10, 2014

The Office of Fair Trading’s Chief Executive announced Friday he plans to depart the regulator and join the Department of Energy & Climate Change.

According to a press release, Clive Maxwell will leave the OFT late next month to become the DECC’s Director-General, Consumers and Households. Maxwell will reportedly focus on energy efficiency.

Filling his vacancy at the OFT will be current Executive Director Vivienne Dews; Dews will head the OFT’s upcoming transition into the new regulator, the Competition and Markets Authority. She will also organize the transition of credit oversight to the Financial Conduct Authority.

The OFT’s other Executive Director Cavandish Elithorn also announced plans to leave the regulator and join the Department for Transport.

Full Content: 4-Traders

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.