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ARTICLE · 21 JULY 2015

Martin Wheatley To Step Down As FCA Chief Executive

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Martin Wheatley is to step down as Chief Executive of the Financial Conduct Authority (FCA) effective 12 September 2015.

United KingdomFinance and Banking
Pooja Kondhia
Pooja Kondhia

Martin Wheatley is to step down as Chief Executive of the Financial Conduct Authority (FCA) effective 12 September 2015

The resignation comes after George Osborne confirmed that Wheatley's contract would not be renewed in March 2016, once it ends.

Several news outlets have reported that in a statement, Osborne commented in order to move forward, the FCA needed 'new leadership'.

Osborne added: 'Britain needs a tough, strong financial conduct regulator. Martin Wheatley has done a brilliant job of launching the FCA in tough circumstances.

'Now that phase is complete, the government believes that different leadership is required to build on those foundations and take the organisation to the next stage of its development.'

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