On 31 July 2015, the FCA announced the appointment of Director of Strategy and Competition, Christopher Woolard, to its Board. The appointment, made by HM Treasury, is for a three year term starting on 1 August 2015. Christopher Woolard joined the FCA in January 2013 as Director of Policy, Risk and Research which became Strategy and Competition in December 2014. He is a non-executive member of the Board of the Payment Systems Regulator.

This announcement came shortly after Megan Butler was announced as Tracey McDermott’s replacement as Director of Supervision (Investment, Wholesale and Specialist) at the FCA. Tracey McDermott will be stepping up to acting CEO. Megan Butler will join the FCA on secondment from her current role as Executive Director of International Banks Directorate at the PRA.