City regulator appoints Asia-Pacific director in growth push
A top director at the Financial Conduct Authority (FCA) will head up a new role in Asia as part of the regulator’s bid to boost growth, Morning Wire has learned.
Camille Blackburn, who is currently the director of wholesale buy-side at the regulator, will head up growth operations in the Asia-Pacific region.
This follows the FCA writing to the Prime Minister in January, pledging growth to be a “cornerstone” of its strategy.
The letter referenced the desire to attract major international investors to the UK through easier access.
The City regulator said they were “establishing a presence” in the United States and promised to go “further and do this in Asia too”.
Blackburn will continue in her current role until the end of April before becoming director in the Asia-Pacific region in July.
An open process will be hosted by the FCA to fill the vacancy following her departure.
Blackburn joined the regulator in October 2022, which marked the creation of her current role.
She was previously global chief compliance officer at the Legal & General Investment Management.
FCA working with government to ‘cut the red tape’
Blackburn’s reshuffle marks the latest step in the City regulator aiding government’s growth ambitions.
The FCA announced last week it was beginning consultations on scrapping the £100 contactless card limit – a reform mentioned in the January letter to the Prime Minister.
This followed the Prime Minister and Chancellor announcing their first major regulatory reform earlier this month, with the folding of the Payment Systems Regulator into the FCA.
The government has pledged to “cut the red tape” holding back growth and the FCA’s letter provided a series of areas “to enhance collective efforts”.
The regulator wrote any reforms and changes made “will be supported by academic research we have commissioned to better understand the links between financial regulation and growth”.
Thus far, growth efforts have remained woeful with the latest Office for National Statistics release showing the UK economy shrunk 0.1 per cent in January.