The Financial Conduct Authority has appointed a chairwoman to its smaller business practitioner panel which represents the interests of small and medium sized firms in the financial sector.
Marlene Shiels, chief executive of Capital Credit Union, will chair the panel from October, after serving as a member since 2015.
Ms Shiels succeeds Craig Errington, the recently-retired group chief executive of Wesleyan, the financial services provider for doctors, dentists, teachers and lawyers.
The regulator’s smaller business practitioner panel is an independent body created to represent the interests of practitioners of small and medium sized firms within the FCA regulated industry.
The FCA said members of its panel were recruited to represent both their own sector and the industry as a whole, rather than individual firms.
Charles Randell, chairman of the FCA, said: "The smaller business practitioner panel plays a vital role in ensuring that the voice of smaller firms in the industry is heard in the UK's regulatory system.
"I am sure that Marlene will continue the excellent work of her predecessors and I look forward to working with her in her new role."
Mr Randell added: "I would also like to thank Craig for his contribution, over several years, to the work of the panel as a member and latterly as chairman."
Incoming chairwoman Ms Shiels said the panel played a "very important" role in the regulatory environment.
She said: "It represents a significant number of businesses across the country and ensures that their interests are at the forefront of change.
"I am looking forward to continuing to work with the FCA and key stakeholders to ensure smaller businesses are well represented through the smaller business practitioner panel."
The FCA also announced today (September 5) the appointment of a chief economist who will head the division responsible for economic research and advice at the regulator.
Kate Collyer will take up the role in October. She is currently chief economist for energy and market frameworks and joint-director of analysis at the department for Business, Energy and Industrial Strategy.
rachel.mortimer@ft.com
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