Martyn Beauchamp appointed permanent CEO of FSCS
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have named Martyn Beauchamp as the permanent CEO of the UK’s Financial Services Compensation Scheme (FSCS), effective immediately.
FSCS names Martyn Beauchamp as permanent head
Beauchamp, who has acted as interim CEO of the FSCS since October 2023, will also join the FSCS Board as executive director.
During his tenure as interim head, Beauchamp is credited with overseeing the FSCS’s transition to a new operating model.
Established in 2001 under the Financial Services and Markets Act 2000, the FSCS is the statutory compensation scheme for customers of financial services enterprises that are “unable, or likely to be unable to meet claims made against them”.
The body says it covers “most financial products”, including mortgages, pensions, investments, deposits, insurance, PPI, debt management and funeral plans, and paid out £423 million in compensation to 19,008 customers between 2023 and 2024.
Beauchamp’s career includes two years as CEO of Sainsbury’s Argos Financial Services, leading Tesco Bank’s international services portfolio, covering operations in Asia and the EU, and spending 11 years at GE Capital.
His appointment follows the FSCS naming former Morgan Stanley managing director Elizabeth Passey as board chair in October 2024.
