UK regulator, the Financial Conduct Authority, has appointed two new directors with responsibility for enforcement and risk.
The current head of enforcement at the Hong Kong Securities and Futures Commission – Mark Steward – will become director of enforcement and market oversight in the early autumn.
Barbara Frohn, meanwhile, will become director of risk and compliance oversight, joining from Banco Santander where she is currently on secondment to the Institute of International Finance in Washington DC.
In a statement to the media, Martin Wheatley, chief executive of the Financial Conduct Authority, described the two roles as ‘vital’ for the UK regulatory system.
He explained: “It says a lot about the FCA that we have been able to attract such high calibre candidates to fill them. Mark and Barbara have built up excellent reputations for their work in financial services across the globe.”
The regulator used the announcement as an opportunity to introduce three other new appointments too.
Marc Teasdale was named director of market oversight in the enforcement and market oversight division and Jo Hill as director of markets intelligence, data and analysis. Andrew Whyte becomes director of communications in the strategy and competition division.
Wheatley added: “While the FCA has been able to attract some of the best people from outside, we also have highly talented, hard-working people within the organisation and Marc Teasdale, Jo Hill and Andrew Whyte will be taking on roles that will be vital to the organisation successfully delivering its objectives and priorities for the years ahead.”