Marshall Bailey has been named the next chair of the Financial Services Compensation Scheme (FSCS).
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) said yesterday that Bailey will take up the post in April.
He will succeed Lawrence Churchill, who will leave later this year after six years in charge.
Bailey has previously spent 14 years in senior roles at RBC Capital Markets, where he led the global coverage of central banking clients. He is currently a non-executive director at Chubb.
“The FSCS is a critical component of the UK’s regulatory infrastructure, and vital to the trust we place in our financial system,” said Bailey.
“The work previously done by Lawrence and the FSCS Board has been excellent, and I thank them for the work they have done to provide a resilient platform through a difficult period.”
The FSCS was set up in 2000, and has been led by Lawrence Churchill for two terms.