Martyn Beauchamp has been announced as the chief executive of the Financial Services Compensation Scheme (FSCS) by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
He has been interim CEO since October 2023 and has overseen its transition to a new operating model.
Beauchamp has more than 20 years of experience in the financial services sector, and before joining the organisation, he held CEO and executive positions at a number of financial services companies including GE Capital and Tesco Bank, working across the UK, EU, Middle East and Asia.
Sam Woods, deputy governor of Prudential Regulation and CEO of the PRA, and Nikhil Rathi, CEO of the FCA, said: “Martyn is a highly experienced candidate, and has already made a meaningful impact as the FSCS’ interim CEO. We are excited to continue working with him.”
Beauchamp added: “FSCS puts customers back on track when their financial services firm fails, helping to build trust and stability in the UK financial services system and supporting long-term sector growth. This is a mission I’m proud to now lead as FSCS’ CEO – and I look forward to working closely with the FSCS team, the financial services industry and our regulators to achieve it.”
This appointment was made by the Prudential Regulation Committee (PRC) and the FCA board with the approval of the Treasury. Beauchamp will take up the permanent role of the FSCS CEO, and as executive director on the FSCS board, immediately.
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