The Financial Conduct Authority has appointed Penny James, Direct Line’s chief executive, to chair its practitioner panel.
James will succeed Paul Feeney, Quilter’s CEO, on March 1, having sat on the panel since September 2020.
The panel, which describes itself as “a ‘critical friend' of the FCA”, is independent of the regulator and is tasked with gathering input from companies to inform the watchdog’s rules.
James reiterated this phrase in an announcement published today (January 31), calling it an “important forum for senior industry practitioners”.
She continued: “I look forward to continuing to work with panel colleagues, where our collective experience and insight can be called upon to help the FCA with its strategic and operational objectives.”
James has led Direct Line since May 2019. Prior to this, she was chief financial officer of the group for more than two years. She also carries experience from executive roles at Prudential, Omega Insurance, and Zurich.
Alongside her chief executive role at Direct Line, James is a non-executive director on Hargreaves Lansdown’s board.
The FCA’s chairman, Charles Randell, dubbed James “an experienced panel member”.
“Penny already understands the panel’s role in providing robust and constructive challenge[s] to help guide our transformation and approach to the future of regulation,” said Randell.
“I look forward to working with her in her new role. I would like to thank Paul for his contribution as both a member and chair, and especially for his skilful steering of the panel through the challenging pandemic period.”
ruby.hinchliffe@ft.com
