"The Smaller Business Practitioner Panel plays a vital role in ensuring that the voice of smaller firms in the industry is heard in the UK's regulatory system."
The FCA has appointed Kate Collyer as its new chief economist.
Kate is currently chief economist for energy and market frameworks and joint-director of analysis at Department for Business, Energy and Industrial Strategy (BEIS).
The FCA’s Chief Economist Division, which Kate will head, provides economic thinking, research, analysis and advice to help the FCA deliver on its strategic objectives.
As well as managing the FCA’s economic research and analysis, the chief economist jointly heads the wider competition and economics division. As chief economist, Kate will act as an adviser to the FCA’s executive committee and board.
The FCA has also appointed Marlene Shiels, chief executive of Capital Credit Union, as chair of its Smaller Business Practitioner Panel. She has been a member of the Panel since 2015 and succeeds Craig Errington, group chief executive of Wesleyan.
The Panel is an independent statutory body that represents the interests of smaller firms within their sector across FCA-regulated activities.
Both Kate and Marlene will take up their new roles in October.
Kate Collyer commented: "I am delighted to be joining the FCA to lead their expert and highly regarded economics team. The FCA has an impressive reputation for thought leadership and I am looking forward to leading work to further promote economics and analysis across the FCA."
Christopher Woolard, executive director of strategy and competition, said: "Kate will play a vital role at the FCA, further embedding the use of economic analysis in our decision making and assessing how well the interventions we make are working. Kate’s excellent economic credentials, and her experience of managing diverse teams will be a huge benefit, given the breadth of analysis the FCA undertakes. I look forward to welcoming her."
Marlene Shiels commented: "The Smaller Business Practitioner Panel plays a very important role in the regulatory environment. It represents a significant number of businesses across the country and ensures that their interests are at the forefront of change. I am looking forward to continuing to work with the FCA and key stakeholders to ensure smaller businesses are well represented through the Smaller Business Practitioner Panel."
Charles Randell added: "The Smaller Business Practitioner Panel plays a vital role in ensuring that the voice of smaller firms in the industry is heard in the UK's regulatory system. I am sure that Marlene will continue the excellent work of her predecessors and I look forward to working with her in her new role.
"I would also like to thank Craig for his contribution, over several years, to the work of the Panel as a member and latterly as chair."