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UK FCA interim CEO to leave watchdog when Bailey arrives

The U.K. Financial Conduct Authority said April 13 thatinterim CEO Tracey McDermott will leave the organization on July 1, the daythat the U.K. Prudential Regulation Authority's former CEO takes over the post permanently.

McDermott has served as the acting CEO of the FCA sinceMartin Wheatley's departure in September 2015. She from the running for thepermanent CEO post. She previously had been the FCA's director of supervisionand authorization and director of enforcement and financial crime.

After her departure, McDermott is required to take asix-month hiatus before working elsewhere, the Financial Times wrote. "People familiar with the matter"told the newspaper McDermott, who has been at the organization since 2001, hasnot yet decided on her next move.

SamWoods was named as deputy governor for Prudential Regulation andCEO of the Prudential Regulation Authority on April 8.