The FCA and the Prudential Regulation Authority (PRA) have appointed current interim chief executive of the the Financial Services Compensation Scheme (FSCS) Martyn Beauchamp to permanent chief executive officer at the UK's statutory compensation scheme

Beauchamp has been interim chief executive of the FSCS since October 2023, with duties that include overseeing the FSCS's transition to a new operating model.

Previously, Beauchamp worked in the financial services industry for over 20 years and held executive leadership roles for a wide range of financial services organisations, including GE Capital and Tesco Bank, operating in the UK, EU, Middle East and Asia.

As international director at Tesco, a position he held from 2011 to 2015, he led Tesco Plc’s international financial services portfolio, covering country operations in South Korea, Thailand, Malaysia, China, Poland, Hungary, the Czech Republic, Slovakia and Ireland.

Previously, he worked for 11 years at GE Capital, where he was promoted to chief marketing and strategic officer in 2007.

Over the next two years, his responsibility was to drive group strategy, go-to-market and digital transformation for six million retail financial services customers through more than 20 B2B partnerships at GE Money's largest EMEA operation.

Sam Woods, deputy governor of prudential regulation and chief executive of the PRA, and Nikhil Rathi, chief executive of the FCA said: “Martyn is a highly experienced candidate and has already made a meaningful impact as the FSCS’s interim CEO.”

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