The Financial Conduct Authority (FCA) has appointed Sheldon Mills as the new executive director for consumers and competition and Siobhán Sheridan as its chief people officer.
The executive director, consumers and competition position was created last month when it was announced that the FCA’s two existing supervision divisions would be brought together and merged with the policy and competition functions. These will form a new, single division led by two executive directors: one focused on the FCA’s consumer protection and competition objectives; the other on the objective to protect the financial markets.
Mills was formerly interim executive director, strategy and competition where he has, amongst other things, led the FCA’s response to ensure industry support for consumers during the pandemic. Prior to joining the FCA, he was senior director at the Competition and Markets Authority (CMA), where he had overall leadership responsibility for the delivery of merger control across the UK economy.
He was recently named as one of the Top 20 Industry Professionals in the Global Diversity List and is also Chair of Trustees at Stonewall.
The new division involves a substantial restructuring of our existing senior management responsibilities for consumer outcomes which have been taken up by Mills with immediate effect. Jonathan Davidson, who currently holds some of these responsibilities, will leave the FCA in early 2021.
Sheridan joins the FCA from the Ministry of Defence where she has been leading an HR team of 200 people and has been responsible for diversity and inclusion strategy at group level for defence.
Her previous experience includes roles at Capital One, DEFRA, DWP and the NSPCC. She will be maintaining her position as a charity trustee at the Mental Health Foundation. She will take up her post from the end of March 2021.
Nikhil Rathi, FCA chief executive, said: “I am delighted that Sheldon Mills will be the FCA’s first executive director, consumers and competition and also to welcome Siobhán Sheridan to the FCA as chief people officer.
“Sheldon has played a crucial role in supporting consumers during the pandemic. I know that Sheldon will bring his knowledge, leadership skills and passion for consumer issues to shape the newly established Division and motivate those who work in it to ever higher standards.
“Siobhán will bring a wealth of experience of leading on people issues in both financial services and public service organisations to the FCA. Her alignment with our values, knowledge of using data to drive people strategy and her commitment to diversity and inclusion make her a great fit for the FCA. I am confident that she will make a significant contribution to our ongoing transformation programme and strengthening FCA capabilities.”