The Financial Conduct Authority has continued its shake-up of its executive team ahead of Andrew Bailey’s departure from the regulator to become governor of the Bank of England.
Sheldon Mills (pictured) will become interim executive director of strategy and competition from 16 March. Mills takes over from Christopher Woolard who is succeeding Bailey in an interim capacity.
Woolard said he had a “proven track record in regulation and competition policy and law”.
“Since joining the FCA he has been an inspirational leader and shown his ability to deliver large, complex projects.”
At the CMA, he was senior director for mergers and state aid.
As the FCA director of competition, he has led the regulator’s work to “make sure competition works well for consumers and tackle anti-competitive behaviour”, a press release said.
“The FCA’s work makes a real difference to the everyday lives of people across the UK,” Mills said. “I’m committed to continuing that crucial work in developing robust policy, promoting competition and encouraging innovation.”
Bailey, who joined the FCA in July 2016, was announced as Mark Carney’s successor at the Bank of England just before Christmas. His final day at the FCA will be 15 March.
HM Treasury is responsible for appointing a permanent replacement CEO at the FCA.