FCA appoints enforcement and compliance heads

Mark Steward FCAThe Financial Conduct Authority (FCA) has recruited the head of enforcement from Hong Kong’s financial regulator in one of two executive appointments. Mark Steward (pictured), currently the head of enforcement at the Hong Kong Securities and Futures Commission, will be the FCA’s director of enforcement and market oversight. He replaces Tracey McDermott, who is now director of supervision. Steward is also a non-executive director of the Financial Disputes Resolution Centre, which mediates between financial institutions and Hong Kong customers. He was previously the deputy head of enforcement with the Australian Securities and Investment Commission. Barbara Frohn, currently managing director, public policy, for Santander US, is to be the FCA’s director of risk and compliance oversight, a newly created post. Frohn, a specialist in risk and regulatory matters who consults with regulators over banking matters, is presently on secondment at the Institute of International Finance in Washington, DC. Frohn previously acted as personal adviser to the chief executive officer of Grupo Santander, and has held senior roles at ABN Amro. She has also been an official adviser to the European Parliament. Both are expected to take up their roles in London in the early autumn. The FCA made three other key director appointments recently. Marc Teasdale becomes director of market oversight within the enforcement and market oversight division; Jo Hill becomes director for markets intelligence, data and analysis; and Andrew Whyte becomes director of communications within the strategy and competition division. ©2015 funds europe

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