Antonio Simoes takes over as head after sitting on the panel for two years.
The panel is an independent statutory body which is made up of members from the financial services sector who represent the interests of the industry within the regulatory framework.
He succeeds Alison Brittain, the former group director of retail finance at Lloyds Banking Group, who announced she was leaving the financial services sector in May.
FCA chairman John Griffith-Jones said: “The practitioner panel plays a vital role in ensuring that the voice of industry is heard in the UK’s regulatory system.
“Antonio has served on the panel for the previous two years and appreciates how important the role of chair is so that the regulator and financial services industry can have a dialogue that is both challenging and constructive. I look forward to working with him in his new role.”
Simoes said he was glad to become chair at a time when rebuilding trust in the financial services industry ‘has never been more important’.
“My focus will be on fostering a constructive dialogue between the panel and both the executive and the board of the FCA,” he said.
Last week, the regulator announced the resignation of its chief executive Martin Wheatley following George Osborne’s refusal to renew his membership to the board past January 2016. Speaking at the FCA’s annual public conference in London yesterday, Wheatley said he was disappointed to be leaving and did so with unfinished business.
