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FCA welcomes new general counsel

Megan Butler has announced she will step down from her role as executive director of Transformation in the spring, with Emily Shepperd to succeed her

The FCA has announced two changes to its executive committee, including Stephen Roman as general counsel, who is set to join in February next year.

It revealed Roman will also be a member of the firm’s Executive Committee following an open competition. 

David Scott has held the role of general counsel on an interim basis while the FCA recruited a permanent appointment and will continue to work at the FCA part-time during a handover period.

Roman joins from the Government Legal Department (GLD), where he is director general of Litigation, Justice and Security. 

According to the FCA, Roman was previously responsible for the GLD’s advice on the UK’s departure from the European Union and is the GLD Board’s lead on Diversity and Inclusion.

In addition, Megan Butler has announced she will step down from her role as executive director of Transformation in the spring, with Emily Shepperd to succeed her.

Butler joined the FCA from the Bank of England in 2016 as executive director of Supervision – Investment, Wholesale and Specialist. 

According to the firm, Shepperd will lead the FCA’s transformation programme, alongside her role as executive director of Authorisations, where since March she has “spearheaded” changes to our approach to the gateway and has been leading “a number” of transformation workstreams.

Nikhil Rathi, chief executive of the FCA, said: “Stephen’s extensive experience of advising ministers on such a wide range of legal issues and managing over 1000 lawyers will be invaluable given the scale and variety of the FCA’s remit. 

Roman added: “I’m delighted to be joining the excellent team at the FCA. This is a crucial period for consumers, financial markets and the FCA and I’m looking forward to starting.”

Megan said: “It has been a privilege to work alongside dedicated colleagues determined to shape a better financial services industry. I look forward to watching and supporting that work as it continues.”

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