Lloyds’ McTeague heads retail banking at watchdog

Karina McTeague takes up her new FCA role in November. Picture: Getty
Karina McTeague takes up her new FCA role in November. Picture: Getty
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The new financial services watchdog has recruited industry stalwart Karina McTeague from Lloyds Banking Group to be its director of retail banking.

McTeague, who joined Lloyds TSB Scotland as its head of risk and company secretary ten years ago, will take over the role at the Financial Conduct Authority (FCA) in November.

Having started her career as an associate partner at “big four” Scottish law firm Shepherd & Wedderburn, McTeague recently returned to the UK after a two-year stint as Lloyds’ chief risk officer in North America.

Since March, she has been seconded from Lloyds to the British Bankers’ Association as a strategy director, advising the trade body on “the vision for the sort of banking sector to which the UK should aspire”.

McTeague will report to Clive Adamson, director of supervision at the FCA.

The watchdog described the role as being “responsible for the largest and most complex retail banking groups in the UK”.

The FCA, which replaced the Financial Services Authority in April, also confirmed the appointments of Linda Woodall as director of mortgages and consumer lending, Nick Poyntz-Wright as director of long-term savings and pensions, and William Amos as director of wholesale banking and investment management.

The watchdog said that the appointments were “the final step in implementing a new structure for the division”.

Adamson added that the appointments “bring a wealth of industry and regulatory experience and will strengthen the leadership of the organisation”.