Butler joins FCA to cover for McDermott

The FCA has appointed a new director of supervision to replace Tracey McDermott, joining on secondment from the Prudential Regulation Authority.

Megan Butler will join the FCA for one year from 1 September. She is currently executive director of the PRA’s international banks directorate.

Butler will replace McDermott, who is set to become acting chief executive following Martin Wheatley’s departure, on 12 September.

Wheatley says: “I am delighted that Megan has decided to join the FCA. She brings a wealth of experience and an excellent reputation in wholesale markets and will be a valuable addition to the executive team.”