The Financial Conduct Authority (FCA) has appointed Direct Line Group CEO, Penny James, as Chair of its Practitioner Panel.
Penny, who has been a member of the Panel since September 2020, will take up the post from 1 March 2022. She succeeds Paul Feeney, CEO of Quilter.
The FCA Practitioner Panel is an independent statutory body providing input from the industry to help the FCA meet its objectives.
The FCA also has statutory Panels representing the interests of consumers, practitioners at smaller businesses and wholesale market participants.
Welcoming the appointment, FCA Chair Charles Randell said:
'As an experienced Panel member, Penny already understands the Panel’s role in providing robust and constructive challenge to help guide our transformation and approach to the future of regulation. I look forward to working with her in her new role. I would like to thank Paul for his contribution as both a member and Chair, and especially for his skilful steering of the Panel through the challenging pandemic period.'
Penny James, Chief Executive of Direct Line Group, said:
'The Panel is an important forum for senior industry practitioners, spanning a range of sectors, to engage and use its expertise as a critical friend to support the FCA’s work. I look forward to continuing to work with Panel colleagues, where our collective experience and insight can be called upon to help the FCA with its strategic and operational objectives.'
Notes to editors
- The FCA Practitioner Panels were set up to make and maintain effective arrangements for consulting practitioners on the extent to which the FCA’s general policies and practices are consistent with its general duties, as set out in the Financial Services and Markets Act 2000 (as amended).
- Appointments of the Chairs of the Statutory Panels are agreed by the FCA Board and approved by HM Treasury.
- Penny James was appointed Chief Executive Officer of Direct Line Group in May 2019, having previously held the role of Chief Financial Officer since joining the Group in November 2017. Prior to this, Penny has been Group Chief Risk Officer and Executive Director at Prudential plc, Director of Group Finance at Prudential, Group CFO at Omega Insurance Holdings Limited and CFO, UK General Insurance, at Zurich Financial Services.
- Paul Feeney was appointed as Chief Executive Officer of Quilter plc (previously Old Mutual Wealth) in August 2012. Paul was Chief Executive Officer of Asset Management, Long Term Savings after joining Old Mutual in January 2012. Prior to this, he held various positions in both asset management and wealth management including Global Head of Distribution at BNY Mellon Asset Management International, Group Managing Director for Gartmore Investment Management, Chief Executive of NatWest Private Bank and of NatWest Investments USA.
- Find out more about the FCA Practitioner Panels.
- Find out more information about the FCA.