Tracey McDermott, Acting Chief Executive of the FCA has announced she is to leave the organisation on 1 July 2016.

On 7 January 2016, Tracey announced that she had decided to withdraw from the process to appoint the permanent Chief Executive of the FCA but would continue as Acting Chief Executive until a permanent replacement was in post.

Andrew Bailey was appointed as the new Chief Executive on 26 January and is due to take up the position on the 1 July 2016.