The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have appointed Martyn Beauchamp as Chief Executive Officer (CEO) of the Financial Services Compensation Scheme (FSCS).

Martyn has been Interim CEO of the FSCS since October 2023, and during this time he has successfully overseen the FSCS’s transition to a new operating model. Prior to this, he worked in financial services for over twenty years. He has extensive experience in CEO and executive leadership roles for a wide range of financial services organisations including GE Capital and Tesco Bank, working across the UK, EU, Middle East and Asia.

Sam Woods, Deputy Governor of Prudential Regulation and CEO of the PRA and Nikhil Rathi, CEO of the FCA said:

“Martyn is a highly experienced candidate, and has already made a meaningful impact as the FSCS’s Interim CEO. We are excited to continue working with him.”

Commenting on his appointment, Martyn Beauchamp said:

“FSCS puts customers back on track when their financial services firm fails, helping to build trust and stability in the UK financial services system and supporting long term sector growth. This is a mission I’m proud to now lead as FSCS’s CEO - and I look forward to working closely with the FSCS team, the financial services industry and our regulators to achieve it.”

This appointment was made by the Prudential Regulation Committee (PRC) and the FCA Board with the approval of the Treasury. Martyn will take up the permanent role of the FSCS CEO, and Executive Director on the FSCS Board, immediately.

Martyn’s appointment follows on from Elizabeth Passey becoming Chair of the FSCS board on 1 October 2024.