The Financial Conduct Authority (FCA) has recruited Julia Hoggett, formerly of Bank of America Merrill Lynch, to head its investment banking supervision.
The appointment is likely to be welcomed by critics of the FCA who claim it is too far removed from market participants. Hoggett was previously a managing director at BoAML responsible for a range of debt capital specialisms.
FCA director of supervision Clive Adamson said: ‘I am delighted that Julia is joining us - she has a huge amount of industry experience, with an excellent understanding of financial institutions and specific investment banking experience.’
Before joining BoAML in 2010, Hoggett was chief executive of Ireland’s DEPFA ACS Bank, and head of its capital markets group responsible for securing funding for the business.
She said: ‘I am looking forward to working closely with colleagues and the wider market to ensure that the United Kingdom remains at the forefront of the investment banking industry and does so in a manner which places the protection of consumers, of all forms, front and centre.’