The Financial Conduct Authority (FCA) has appointed Craig Errington, group chief executive of Wesleyan, as chair of its smaller business practitioner panel.
Errington will succeed Clinton Askew, director of Citywide Financial Partners, effective 1 April 2017, and has been a member of the panel since May 2013.
The FCA smaller business practitioner panel is an independent body, representing the interests of SMEs within their sector across FCA-regulated activities.
John Griffith-Jones, chairman of the FCA, previously warned that SMEs had a grievance against banks, and highlighted the role of the panel in insuring their concerns were raised and listened to, while in January Andrew Bailey, chief executive of the FCA, said that the UK did not have an ‘adequate’ complaints resolution mechanism for SMEs in their dealing with banks.
Griffith-Jones said: “The smaller business practitioner panel plays a vital role in insurance that the voice of smaller firms in the industry is heard in the UK’s regulatory system.
“I am sure that Craig will continue the excellent work of his predecessor and I look forward to working with him in his new role.”
Errington said: “These companies may not be on every high street or be well known to general consumers, but still look after billions of pounds of customers’ money and it’s important their interests, and those of their customers and members, are well represented with the FCA.”
Wesleyan acquired IT finance provider Syscap for an undisclosed sum in February 2015.