The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) has appointed Marshall Bailey as chair of the Financial Services Compensation Scheme Ltd (FSCS), with effect from 1 April 2018.
The appointment was made by the FCA board and the Prudential Regulation Committee (PRC) with the approval of HM Treasury. Mr Bailey succeeds Lawrence Churchill who is stepping down after two successful terms as chair.
Mr Bailey has worked in financial services for over two decades, and has worked on issues around financial reform and conduct, most recently as non-executive director on the board of UK Financial Investments Ltd (UKFI). In addition, Mr Bailey is currently a non-executive director at Chubb European Group and CIBC World Markets in the UK.
The FSCS works closely with banks, insurers and building societies throughout the UK, as well as with providers of investment and pension advice.