THE Financial Reporting Council (FRC) has appointed Tracy Vegro, a senior civil servant as its executive director of strategy and resources.
Vegro will be responsible for implementing the FRC’s strategy, and ensuring the regulator has the “culture, resources and leadership to deliver against its objectives” as it takes on the new role of the Competent Authority for Audit.
A senior civil servant, Vegro recently finished a secondment through the Cabinet Office at the Co-operative Group where she worked on the bank’s recapitalisation. She was then involved in the Treasury Select Committee inquiry into the serious governance flaws at the bank, and stayed on to implement significant reforms following Lord Myners’ governance review.
Stephen Haddrill, chief executive of the FRC, said: “Tracy’s work on policy and strategy will be invaluable to the FRC as we enter our next three year strategic cycle. Her experience and insight in governance and capital market issues will be of critical importance to the FRC as our responsibilities grow and we seek to promote trustworthy behaviour and trustworthy corporate information in pursuit of our mission to foster investment.”
She will report to the FRC’s chief executive, Stephen Haddrill and sit on the executive committee.
Tracy Vegro said: “I’m particularly looking forward to working with the FRC’s extensive stakeholders to promote trustworthy and transparent information and behaviours, and to contributing to its important work of boosting economic confidence and growth by assisting the flow of global capital into the UK.”