The Financial Conduct Authority (FCA) has hired the Competition and Markets Authority's (CMA) Sheldon Mills as director of competition.
In his new role, Mills will be responsible for promoting competition in the interest of consumers while enforcing prohibitions on anti-competitive behaviour within the financial services industry.
In addition, he will also be required to deliver market studies such as the ongoing mortgage and wholesale insurance brokerage market study.
At the CMA, Mills had overall leadership responsibility for delivering UK merger control across the UK economy.
He was hired as senior director of mergers in 2014, having first held a senior directorship in 2013, at the CMA's predecessor, the Office of Fair Trading.
Christopher Woolard, executive director of strategy and competition at the FCA, said: "I know that Sheldon will continue the work the FCA has done since it was given a competition remit, to deliver markets that deliver for consumers."
Mills added: "Financial markets face major change and complexity, so the FCA's competition work is essential.
"I am looking forward to leading a programme of work which delivers real and lasting change for people and communities across the UK."
Purchased for undisclosed sum
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