CEO to leave next May after nine years with the organisation.

Mark Neale, chief executive of the Financial Services Compensation Scheme (FSCS), will leave on 3 May 2019 after nine years in the role.

Neale told staff that he would stand down when his third, three year term as a director comes to an end next May.

“I think it is the right time to move on,” he said.

“I firmly believe that any organisation needs new leadership after nine years. And I want to take on new challenges.”

Civil Service
He had joined the FSCS in May 2010 after a career in the Civil Service including as a director general at HM Treasury and the Home Office.

The search for his successor has now begun with the final decision to be made by the Financial Conduct Authority and the Prudential Regulation Authority with approval of HM Treasury.

Tenure
Marshall Bailey, who became the chair of the FSCS this April, commented: “Mark’s tenure at FSCS has seen striking changes in both FSCS’ own capability and in the depth of its relationships with the regulators, government and our partners in the financial services industry.

“Thanks to Mark and his team, FSCS is better prepared to deal with major failures and to support financial stability.

“It provides a better service to its customers, is better known by consumers and is more efficient. We wish him all the best as he prepares to write the next chapter in his distinguished career.”

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