The former chief executive of the Financial Conduct Authority has taken on an advisory role at a hedge fund based in Hong Kong.
Martin Wheatley, who left the financial watchdog back in 2015, has joined the advisory board of Hong Kong-based Oasis Management, according to FTAdviser’s parent publication the Financial Times.
Mr Wheatley was appointed as chief executive of the FCA back in 2013 to try to overhaul the industry after the financial crash of 2008.
However, in 2015 former chancellor George Osborne said Mr Wheatley was “not the right person” to carry on with the next phase of the FCA’s development.
He was replaced temporarily interim chief executive Tracey McDermott, before former Prudential Regulation Authority chief executive Andrew Bailey took the reigns last year.
Before working at the FCA, Mr Wheatley used to head up the Hong Kong regulatory body, the Securities and Futures Commission, where he launched a regime for short sellers in a bid to increase market transparency.
Founded in 2002, Oasis invests in equities and is largely Asia-focused.
Speaking to the FT, Mr Wheatley said: "I think that regulators and politicians in particular have always misunderstood hedge funds and been a little afraid of them.”
katherine.denham@ft.com
