Business

Bet on the Next Chief Executive of the FCA to be Tracey McDermott

  • Tracey McDermott led the FCA in a temporary role in 2015
  • Chris Woolard is one of Mr. Bailey’s lieutenants
  • Another candidate is Sam Woods the deputy governor of the BoE
Bet on the Next Chief Executive of the FCA
Bookies have made their minds up
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The search for a new replacement to Andrew Bailey, the Chief Executive of the FCA is underway. Top candidates include Tracey McDermott, Chris Woolard, and Sam Woods. You can place your bet on the next Chief Executive of the FCA, with the bookies favoring Ms. McDermott to win the top position.

The current Executive Chief of the FCA Andrew Bailey, 60, will become the 121st governor of the Bank of England. He is due to begin at the BoE in mid-March, 2020, as online sportsbook news in the UK reported. Thus, a new Executive Chief of the UK’s financial watchdog is needed, but no obvious successor is on the horizon. That certainly makes a bet on the next Chief Executive of the FCA intriguing, with the new executive to be likely announced early in the new year. So, without further ado, here are the brief summaries of the top three candidates Tracey McDermott, Chris Woolard, and Sam Woods and their betting odds.

Tracey McDermott led the FCA in a temporary role in 2015

Tracey McDermott currently serves as a group head of corporate, public and regulatory affairs at Standard Chartered. Previously she worked at the FCA as head of enforcement between 2011-2015. When George Osborne sacked Martin Wheatley in 2015, Ms. McDermott took charge of the FCA in a temporary role. However, it was Andrew Bailey who was named as the permanent Executive Chief at that time.

Ms. McDermott is perceived as a strong candidate with good leadership skills. She has extensive experience in bank supervision, regulation, and policy development. Accordingly, top online gambling sites in the UK such as 1xBET Sportsbook favor Ms. McDermott to win the position with 56/25 odds.

Chris Woolard is one of Mr. Bailey’s lieutenants

Chris Woolard is one of Mr. Bailey’s trusted lieutenants and he is now the FCA’s head of strategy and competition. Mr. Woolard joined the FCA in January 2013 offering great energy to improve the UK’s watchdog policy on market intelligence, consumer issues, communications, and innovation. Prior to that, he has had senior roles at Ofcom, the BBC, and the civil service. Mr. Woolard is a Sloan Fellow of London Business School. 1xBET Sportsbook offers 7/2 odds to bet on the next Chief Executive of the FCA to be Mr. Woolard.

Sam Woods is the deputy governor of the BoE

The deputy governor in the Bank of England and the head of the Prudential Regulation Authority, Sam Woods is also on the shortlist. His odds value at 3/1. Many see him as a very good leader, and one of the people who is a great communicator. Prior to his role at the Bank, Woods held positions at HM Treasury, UK Financial Investments, the Independent Commission on Banking. Earlier to that, he worked at Diageo and Mckinsey.

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