The FCA has appointed a new director of competition.

Sheldon Mills has been appointed to the role which he will take up in November..

Mr Mills is currently senior director, mergers and state aid at the Competition and Markets Authority (CMA).

At the FCA the regulator said he will be “a central figure in delivering one of the organisation’s operational objectives — to promote competition in consumers’ interest.” 

As well as delivering market studies, for example those currently ongoing into the mortgage and wholesale insurance brokerage market, Mr Mills will be responsible for the FCA’s activities to enforce prohibitions on anti-competitive behaviour within the financial services industry.

On his appointment, Mr Mills said: “I am delighted to be joining the FCA to lead their expert and committed competition team.

“Financial markets face major change and complexity, so the FCA’s competition work is essential.

“I am looking forward to leading a programme of work which delivers real and lasting change for people and communities across the UK.”

Christopher Woolard, executive director of strategy and competition, said: “In Sheldon we are getting an undisputed expert in competition law and policy.

“I know that Sheldon will continue the ground-breaking and vital work the FCA has done since it was given a competition remit, to deliver markets that deliver for consumers.”