Martyn Beauchamp joins the Financial Services Compensation Scheme as Interim CEO
- The Financial Services Compensation Scheme (FSCS) has announced that Martyn Beauchamp is joining the organisation as its CEO. He will also join the FSCS Board as an Executive Director.
- The appointment is on an interim basis and will begin on Wednesday 18 October.
Martyn is an experienced leader who has led listed, private and state-owned financial services businesses across Europe, the Middle East and Asia. Operating as a senior executive over the last 20 years, Martyn has worked with regulators and governments in the UK and globally.
Martyn’s appointment was recommended by the FSCS Board, and he was appointed by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) before approval by HM Treasury.
Marshall Bailey, FSCS Chair said:
“The Board and I recommended Martyn for the role of interim CEO as he brings both extensive financial services experience and a real passion for good outcomes, with an eye on the impact on trust in financial services, which is at the core of what FSCS does.
“Martyn’s appointment comes at a pivotal time for FSCS and financial services as we find ourselves engaged in many important discussions about the future of regulation, looking at how we can best meet the needs of consumers, and all our stakeholders, in an ever-changing and complex industry. I look forward to spending the last part of my tenure as Chair working with Martyn alongside the rest of the FSCS Board.
“I would also like to thank Fiona Kidy, FSCS’s Chief Financial Officer, who stepped up to lead the organisation whilst we appointed an interim CEO, ensuring the vital work that FSCS does continued uninterrupted over the summer.”
Nikhil Rathi, the CEO of the FCA and Sam Woods, the Deputy Governor for Prudential Regulation and CEO of the PRA, commented:
“FSCS plays an important role in the regulatory landscape. We look forward to working closely with Martyn during his time at the organisation.”
The recruitment of a permanent CEO will start in line with the next FSCS Chair’s first term, which is expected to begin in April 2024.