Treasury reappoints former banker to FCA Board

The Treasury has reappointed experienced financial services executive Sophie Hutcherson to the FCA Board.

She will continue to serve on the FCA Board for a second three-year term to expire 16 April 2029.

She was first appointed to the board in April 2023. Her first three-year term will end on 16 April 2026 before her new term begins.

Ms Hutcherson has more than 30 years’ senior experience in financial services, with previous roles at Wells Fargo, Deutsche Bank UK, and Lehman Brothers. She spent eight years at Deutsche Bank ending up as chief operating officer – UK, Ireland & Channel Islands in 2016, a role she held for almost three years.

She is a Fellow of the Chartered Association of Certified Accountants and also holds a number of other non-executive roles, all of which are unrelated to her FCA Board position, including directorships at Yacht Fractions Ltd and Bellecapital.

Ashley Alder, chair of the FCA said: “I’d like to congratulate Sophie Hutcherson on her reappointment. We will continue to benefit from her wealth of commercial experience and counsel as the Board focuses on delivery of the FCA’s strategy.”

Lucy Rigby, economic secretary to the Treasury, said: “I am pleased to confirm the reappointment of Sophie Hutcherson to the FCA Board. Sophie’s extensive experience and skills will continue to support the FCA’s important work to reform regulation and support the government’s growth mission.’

Reappointments to the FCA Board are not automatic, the regulator said, and each case is considered on its own merits. Sophie Hutcherson’s reappointment was made in line with the requirements of the Governance Code on Public Appointments.

Ms Hutcherson has confirmed that she has not engaged in any political activity in the last five years.