FCA appoints two new joint executive directors for enforcement
The UK’s Financial Conduct Authority has appointed new executive directors to its enforcement division, underlining the importance of enforcement to the regulator’s ongoing three-year strategy.
FCA appoints new joint executive directors of enforcement
Therese Chambers and Steve Smart will work as joint executive directors of enforcement and market oversight, supporting the FCA as it becomes “a more assertive, more adaptive and more innovative regulator”.
FCA CEO Nikhil Rathi says the pair’s complementary skillset “will be a powerful combination” for the regulator.
Therese Chambers will take on the role of executive director on 1 April 2023. Steve Smart will join on 21 June 2023. Mark Steward will leave the FCA on 13 April 2023.
Chambers has worked at the FCA for more than 20 years, with the majority of that time spent in enforcement. She has held the position of director of retail and regulatory investigations and is currently the director of consumer investments in the supervision, policy and competition division.
Smart joins from the National Crime Agency, known as the “UK’s FBI”, where he sits on the executive committee as director of intelligence, leading more than 2000 people. Smart also has private sector experience, having built an integrated intelligence and investigations department in a major banking group.
