The Financial Conduct Authority (FCA) has appointed Competition and Markets Authority (CMA) director Sheldon Mills as its new director of competition.
Mills is currently senior director, mergers and state aid at the CMA but will become a central figure in promoting competition in consumers’ interest in his new post, which he takes up in November, a statement issued by the FCA said.
In addition to delivering market studies, for example those currently ongoing into the mortgage and wholesale insurance brokerage market, he will be responsible for the FCA’s activities to enforce prohibitions on anti-competitive behaviour within the financial services industry.
Mills said: “I am delighted to be joining the FCA to lead their expert and committed competition team.
“Financial markets face major change and complexity, so the FCA’s competition work is essential.
“I am looking forward to leading a programme of work which delivers real and lasting change for people and communities across the UK.”
Christopher Woolard, executive director of strategy and competition at the FCA, said: “In Sheldon we are getting an undisputed expert in competition law and policy.
“I know that Sheldon will continue the ground-breaking and vital work the FCA has done since it was given a competition remit, to deliver markets that deliver for consumers.”