Financial Conduct Authority chief operating officer Lesley Titcomb has been announced as the new chief executive of The Pensions Regulator, replacing Stephen Soper who has held the role on an interim basis for a little more than a year.
Ms Titcomb, currently both COO and a Board member with the FCA, will take up the post from 2 March 2015.
She joined the Securities and Investments Board in 1994 after qualifying as a chartered accountant and has held a wide range of posts covering both regulatory and operational issues at the SIB and the FSA, including leading engaging with investment intermediaries and financial advisers.
Roles held with the conduct watchdog include director of regulatory transactions and director of small firm supervision. In July 2010, she was appointed acting COO of the FSA and joined the executive committee, later taking on the role permanently when the the FCA was created in 2012.
Ms Titcomb said: “The UK is currently undergoing a pensions revolution. With so much fundamental change, it is important that the industry is overseen by a strong, independent pensions regulator, focused on the issues within the sector, that is respected for its technical expertise and authoritative voice.
“I relish the opportunity of working with the regulator’s high quality team and with other industry stakeholders to ensure that the changes and new freedoms planned for the pension system deliver clear benefits for retirement savers.”
The Pensions Regulator’s Chair Mark Boyle said: “Lesley brings a wealth of regulatory and operational experience, at a time when The Pensions Regulator’s responsibilities continue to expand.
“Next year will see the introduction of new minimum standards and a charge cap for DC schemes, much greater freedom for members drawing a retirement income, new regulatory responsibilities for public service pension schemes and the roll out of automatic enrolment to small and micro businesses.
“I look forward to working with Lesley and colleagues at the regulator as we tackle these important challenges.”
ashley.wassall@ft.com
