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The Financial Conduct Authority (FCA) has recently announced the appointment of Therese Chambers and Steve Smart as joint executive directors of enforcement and market oversight.
Chambers has worked for FCA for over 20 years and currently she holds the position of director of consumer investments in the supervision, policy and competition division. She will start her role on 1st April.
Speaking on her appointment, Chambers said: “I look forward to working with colleagues on ExCo and across the FCA as we increasingly use our powers to protect consumers and tackle harm.”
Smart joins from the National Crime Agency, where he sits on the executive committee as director of intelligence, leading a division of over 2000 people. He also worked in the private sector where he led the development of an integrated intelligence and investigations department in a major banking group. He will start the role on 21 June.
He said: “I’m really excited to be joining the FCA. It is a great opportunity to put my experience of leading and developing proactive operational functions and working with partners in the police, wider law enforcement and counterparts overseas to help the FCA to continue to prevent serious harm; set higher standards; and promote competition.”
The expansion of the FCA’s enforcement and market oversight leadership team reflects the vital role that enforcement work plays in delivering its three year strategy and its commitments to reducing the growth in financial crime.
The appointment of Chambers and Smart to co-lead the enforcement and market oversight division will also support the FCA’s ongoing transformation to become a more assertive, more adaptive and more innovative regulator.
Nikhil Rathi, chief executive of the FCA, said: “We are committed to acting faster and more effectively, putting the power of technology, data and intelligence at the heart of our enforcement operations. Therese and Steve will be a powerful combination, bringing a complementary skillset, which will enable us to do just that.”
