Board of Directors
Marshall Bailey OBE (Chair) Appointed 1 April 2018.
Marshall is a well-established figure within financial services, with substantial experience in leading complex international committees and boards. His background spans a range of sectors, including banking and capital markets, government regulation and public policy, and he has taken a particular interest in working with codes of conduct.
Marshall is currently Chair of MUFG Securities EMEA plc. He is also the former Chair of CIBC World Markets Limited, LCH Group Holdings Limited and was an independent director of London Stock Exchange Group plc.
Additionally, he is a representative of the Saudi Arabian Public Investment Fund on the board of the National Commercial Bank in Jeddah, where he chairs the Group Risk Committee. Marshall also volunteers as a member of the global Board of Governors of the CFA Institute.
Patrick Neville Appointed 1 July 2017.
Patrick is a Chartered Accountant and has had an extensive career in financial services, operating in leadership roles across banking, asset management and insurance. Formerly Chief Financial Officer at Aviva Investors, Patrick was also Finance Operations Director for Aviva’s UK Life and General Insurance businesses and spent 16 years with Royal Bank of Scotland, latterly as Finance Director of the Cards and Direct Finance business.
He brings to the Board a strong track record in the delivery of large-scale change and a deep understanding of the implementation and operation of risk and control frameworks in financial services. Patrick is also non-executive Chair of PATAC Ltd, an investment trust administration company, and a director of Decisioning Blueprints Ltd.
Helen Parker (Deputy Chair and Senior Independent Director) Appointed 1 July 2017.
Helen brings an in-depth understanding of consumer research, policy and communications across a range of essential markets. She was Deputy Chief Executive of Which?, Europe’s largest independent consumer organisation and, before that, served as its Director of Policy, Editorial Director, and Editor of Which?.
Her non-executive experience now includes being a committee member of Healthwatch England, the independent consumer champion for users of health and social care. She also has a number of consumer challenge roles. These include being a member of the Independent Consumer Challenge Group established by the energy regulator Ofgem; Aegon's Independent Governance Committee, whose role is to challenge the company on the quality and value for money offered to its workplace pensions customers; and the Office of Rail and Road's Consumer Expert Panel. She is also a Trustee of Aegon's Master Trust pension scheme.
Richard Parkin Appointed 1 July 2019.
Richard is an independent management consultant specialising in pensions and retirement. He works with pension providers, asset managers and other organisations, helping them with strategy, policy and proposition development and management. He also conducts independent research focusing on the UK retirement and defined contribution markets.
Richard’s main area of interest is in developing better retirement solutions to help consumers get the most from their retirement savings. He has 30 years’ experience in the pensions sector, most recently at Fidelity International where he held a variety of senior roles including Head of Retirement and Head of Pensions Policy. He also has extensive knowledge of investment-linked insurance, having launched and led Fidelity’s insurance business in Ireland and been an executive director of its UK insurance company.
Prior to Fidelity, Richard held senior product development roles at UBS Global Asset Management and was a pension consultant with what is now Willis Towers Watson. He is a well-known industry figure having chaired the Association of British Insurers’ Retirement Working Group and led a working group on retirement for the Investment Association.
Nicky Morgan Appointed 1 September 2020.
The Rt Hon Baroness Morgan of Cotes began her political career as the Conservative MP for Loughborough back in 2010. During her time in Westminster, she served as Secretary of State for Digital, Culture, Media and Sport from 24 July 2019 to 13 February 2020, Chair of the House of Commons Treasury Select Committee between 2017 to 2019 and Education Secretary and Minister for Women and Equalities from July 2014 to July 2016. She served as Assistant Whip in the coalition government until her appointment as Economic Secretary to the Treasury in October 2013. A qualified solicitor, Nicky practised corporate law before entering politics.
Nicky is currently a member of the Careers & Enterprise Company Board, a consultant to Travers Smith, a member of the UK Advisory Board at Grayling and she also chairs the Trustee Board of a mental health charity in Loughborough.
Wendy Williams CBE Appointed 1 September 2020.
Wendy Williams is HM Inspector of Constabulary and HM Inspector of Fire & Rescue Services. She has responsibility for 13 police forces across Wales and the West of England and 11 fire and rescue services in the West of England. She was previously a Chief Crown Prosecutor with the Crown Prosecution Service and a solicitor and partner in private practice.
More recently, in 2020 she published a report into the Windrush scandal following her review of the Home Office. Wendy received a CBE for her public service in the 2021 new year’s honours list.
Cathryn Riley (Appointed 1 February 2021)
Cathryn is highly experienced in the insurance and financial services sector. She has held numerous executive roles at Aviva Plc, including Group Chief Operating Officer and Group Chief Information Officer.
Cathryn is currently a non‑executive director of Automobile Association Insurance Services Limited and Liberty Managing Agency Ltd. She has also been a non‑executive director of International Personal Finance plc and a board member of a number of insurance organisations.
Caroline Rainbird (Chief Executive Officer) Appointed 13 May 2019.
Caroline brings a wealth of global experience from a career spanning 30 years within the financial services sector encompassing senior regulatory, strategic, commercial, operational, investment banking, and client-led roles.
Between 2009 and 2017 she held senior positions at Royal Bank of Scotland (RBS) working most recently as Managing Director of Regulatory Affairs, where she was responsible for defining and delivering the bank’s strategic and proactive engagement and profile with its global regulators, advising the Bank Board and Executive on its regulatory engagement and compliance, as well as monitoring bank-wide upstream regulatory risks and delivering mandatory regulatory change programmes.
Prior to this, Caroline was Director of RBS’s Corporate Services Division, where she was responsible for the global strategy, operations, service delivery, financial performance and risks of one of the largest cost areas within RBS. From 1995 to 2009 she worked at ABN AMRO, undertaking a number of leadership and transactional roles within Group Shared Services, Finance, Change Management and Structured Finance.
Fiona Kidy (Chief Financial Officer) Appointed 1 July 2020.
Fiona joined FSCS in 2016 as Head of Financial Management and Funding. Following a period as Acting Chief Financial Officer, Fiona was appointed as Chief Financial Officer and Executive Director on 1 July 2020.
Fiona is a Chartered Accountant who brings diverse and extensive experience spanning over 20 years within the financial services sector, including senior positions at JPMorgan and HSBC. Much of her career has been spent building and leading high-performing finance teams. At JPMorgan, from 2007 onwards she was a director and held senior positions, including Global Controller roles in corporate finance, business management and strategic client initiatives in both London and New York. Prior to joining FSCS, Fiona was at HSBC as a Senior Manager for Global Finance and Technology functions.