Jonathan Davidson named director of supervision – retail and authorisations

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Former Direct Line Group chief operating officer Jonathan Davidson is to join the FCA as director of supervision – retail and authorisations.

He will take up his new role in the autumn.

Davidson left Direct Line in December 2012 after the insurer axed 70 senior management roles as part of its cost-cutting programme.

He is currently a senior adviser to private equity firms and a member of broking group Jardine Lloyd Thompson’s strategic advisory group.

Davidson’s new role at the FCA was created s part of the FCA’s new strategic approach.

It sits alongside the position of director of supervision – investment, wholesale and specialist, which is held by Tracey McDermott.

FCA chief executive Martin Wheatley said: “This appointment is another example of the FCA being able to attract the best talent from across the financial sector. Jonathan has experience of working across the globe as well as in the United Kingdom.

“Given the increase in our supervisory work in retail over the last two years, this is an incredibly important role and I look forward to working with Jonathan.”