FORMER Halifax Bank of Scotland risk specialist Karina McTeague has been hired by one of the new City regulators to oversee its supervision of the UK's retail banks.
The Financial Conduct Authority has recruited the Edinburgh University law graduate from Lloyds Banking Group, where she has spent the past two years as its chief risk officer in North America.
Since returning to the UK in March, she has been on secondment as strategy director at the British Bankers' Association.
Ms McTeague started her career with Edinburgh-headquartered law firm Shepherd and Wedderburn and moved into banking at Bank of Scotland, holding positions including chief solicitor and deputy group counsel.
She was principal risk adviser in HBOS's insurance and investment division when she was recruited by Lloyds TSB Scotland to be head of legal and risk in 2003.
In that role, she was company secretary to the board and responsible for all the bank's legal work and risk management.
Later, in 2008, she became risk director in asset finance for Lloyds TSB, which became Lloyds Banking Group after its rescue takeover of HBOS.
In her latest posting to the United States, Ms McTeague was responsible for building relationships with local regulators.
She has held a number of roles in Scottish public life, including sitting on the Scottish Government's Business Experts and Legal Forum, advising on how to make the legal system more business friendly. She has been a member of the council of the Law Society of Scotland and a member of the Committee of Scottish Clearing Banks.
At the Church of Scotland, she had two stints on the practices and procedures board of the General Assembly and served on its legal questions committee for seven years until 2007.
As director of retail banking at the FCA, Ms McTeague will oversee one of four sub-divisions in the FCA's supervision operation.
The role is likely to be a prominent one because FCA chief executive Martin Wheatley has made it clear he wants the regulator to learn the lessons of previous problems, such as payment protection insurance mis-selling, by taking decisive action when issues first arise.
Yesterday, the FCA also announced the appointment of Linda Woodall, who has a 12-year track record at predecessor body the Financial Services Authority, as director of mortgages and consumer lending, a role she previously filled in an acting capacity.
Nick Poyntz-Wright has been confirmed as director of long-term savings & pensions.
He joined the FSA as head of life insurance in September 2011, following six years as chief executive of investment house Skandia UK.
A third former FSA staffer, William Amos, who also worked as an economist at the Bank of England, has had his acting role as director of wholesale banking & investment management confirmed as a permanent position.
Clive Adamson, director of supervision at the FCA, said: "I am delighted to have appointed Karina, Nick, Will and Linda to the supervision division.
"They bring a wealth of industry and regulatory experience and will strengthen the leadership of the organisation. These appointments also provide more management depth to help us take forward the FCA's agenda."
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