According to the Sunday Times, the replacement of Martin Wheatley, who announced his resignation as chief executive last year, is expected to be announced in the next few weeks.
Speaking to the Sunday Times, the chief executive of one British lender said: “Tracey has proven to be a really strong regulator. It’s clear she has been briefed by the Treasury to take a more collaborative approach with the banks.”
McDermott (pictured) took over from Wheatley in an acting capacity in September following his resignation. Previously she worked at the regulator as director of supervision for investment, wholesale and specialists.
Also competing for the FCA’s top job is Mark Branson, chief executive of Switzerland’s Financial Market Supervisory Authority, Andy Haldane, chief economist at the Bank of England, Charles Roxburgh, director-general of financial services at the Treasury, and Ed Richards, the former head of Ofcom.
