Financial Conduct Authority (FCA) acting chief executive Tracey McDermott is to leave the organisation on 1 July, the regulator announced today.
McDermott became the acting CEO in September 2015, after Martin Wheatley was ousted by the Chancellor.
On 7 January she announced she had decided to withdraw from the process to appoint the permanent chief executive of the FCA but would continue as acting chief executive until a permanent replacement was in post.
Andrew Bailey was appointed CEO on 26 January and is due to take up the position on 1 July.
McDermott's decision to leave was "personal", the FCA said, adding she is not leaving for an appointment elsewhere.
McDermott previously acted as director of supervision and authorisations and prior to that director of enforcement and financial crime.
She joined the FCA's predecessor, the Financial Services Authority, in 2001.
FCA chairman John Griffith Jones said: "Tracey has done a terrific job leading the FCA over the last seven months, building on the enormous contribution she has made in her various roles over the previous fifteen years.
"Transitions are always challenging and her energy and clarity of purpose have been invaluable in steering the organisation in the right direction. I know she will continue to lead the FCA with the same commitment until Andrew Bailey arrives in July and I and the Board are grateful for her unstinting support."
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