After joining on secondment in September, a member of the FCA’s executive team has been made permanent.

The UK's Financial Conduct Authority has appointed Megan Butler to the permanent role of director of supervision for investment, wholesale and specialists.

Butler had been in the role for the past nine months on secondment from the Prudential Regulation Authority, where she was executive director of international banks directorate. She joined the Bank of England in 2013 from the Financial Services Authority, as the FCA was previously known. She joined the FSA in 2000. In 2008, she became head of the department responsible for supervising UK operations of major investment banks. Before the FSA, she spent several years at the London Stock Exchange in roles including head of capital markets.

Prior to Butler's secondment, the role of director of supervision for investment, wholesale and specialists was held by Tracey McDermott, acting chief executive of the watchdog. Andrew Bailey, deputy governor for prudential regulation at the Bank of England, was recently appointed as the FCA's new permanent CEO.

“I am delighted that Megan has decided to stay at the FCA. She is an extremely experienced regulator with an excellent reputation in wholesale markets and has established herself as a key member of the FCA’s executive team over the past nine months,” said McDermott.

Butler is a barrister, called to the bar in 1987.