A recruitment firm has been hired by the Financial Conduct Authority to help hunt for three members to bulk out its 11-strong board.
London-based Russell Reynolds Associates has been chosen to assist in the search, which has come about as a result of the terms of three non-executive board members expiring, according to FTAdviser’s parent publication The Financial Times.
All three year non-renewable terms of senior independent director Brian Pomeroy, and non-executive directors Amanda Davies and Mick McAteer are due to expire soon.
The FCA board, which sets the regulator’s policy and strategy and holds executive members to account is led by FCA chairman John Griffith-Jones.
A board-recommended inquiry after a botched pre-briefing on an FCA campaign sent company shares awry at the end of the ‘closed book’ scandal last year.
Following this in July this year it was annnounced that current chief executive Martin Wheatley’s contract would not be renewed by chancellor George Osborne.
Mr Wheatley is officially due to step down on Friday (11 September) to be replaced on an interim basis by head of supervision Tracey McDermott.
However, he will continue to advise the FCA until the beginning of 2016.
ruth.gillbe@ft.com
