Prof Amelia Fletcher

Prof Fletcher has been named by the Treasury and the Department for Business, Innovation and Skills as a non-executive director on the 12-member board of the Financial Conduct Authority (FCA), which started operating this week. Formerly chief economist at the Office of Fair Trading, she recently joined Norwich Business School and the ESRC Centre for Competition Policy at UEA as a professor of competition policy.

The FCA is one of two new financial regulators, working alongside the Prudential Regulation Authority. Together they replace the Financial Services Authority. The FCA regulates the financial services industry and aims to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers. It has rule-making, investigative and enforcement powers.

Commenting on the appointment Prof Fletcher said: "The FCA is a new regulator with a new set of objectives. At this critical time in the history of financial services, I look forward to drawing on my strong experience in competition and consumer policy to support the FCA in achieving its aim of delivering financial markets which work well and generate better outcomes for consumers."

Prof Morten Hviid, director of the ESRC Centre for Competition Policy, added: “We are delighted that the FCA has recognised the positive role that carefully regulated competition can play in ensuring the financial sector meets the needs of its customers.  Professor Fletcher is the perfect appointment to support FCA senior management in keeping this new focus.”