Board of Directors
Non-Executive Directors
Elizabeth Passey (Chair) Appointed 1 October 2024.
Over a 30-year career, Elizabeth has held senior positions in several financial services organisations, including with Morgan Stanley, Investec Asset Management and J Stern & Co.
Elizabeth is also a member of the boards of the Rivers Trust and the Wye & Usk Foundation, a patron of Clean-up UK and ambassador for the 30% Club. At the time of Elizabeth’s appointment as FSCS Chair, she had recently completed tenures as Chair of the Rural Payments Agency and Convener of the University of Glasgow.
Elizabeth was also previously a board member of VPC Specialty Lending Investments PLC and a UK board member of The National Lottery Community Fund.
Richard Parkin (Deputy Chair and Senior Independent Director) Appointed 1 July 2019.
Richard has over 30 years’ experience in the UK pensions and retirement market working across consultancy, product provision and asset management. He is currently Head of Retirement for BNY Mellon Investment Management where he works with intermediaries to help consumers get the most from their retirement savings.
Prior to this, Richard ran his own management consulting business helping pension providers, asset managers and other organisations with strategy, policy, and proposition development. He has also produced a range of research reports focusing on the UK retirement and defined contribution markets.
He is a well-known industry figure having chaired the Association of British Insurers’ Retirement Working Group and led a working group on retirement for the Investment Association.
Nicky Morgan Appointed 1 September 2020.
The Rt Hon Baroness Morgan of Cotes began her political career as the Conservative MP for Loughborough back in 2010. During her time in Westminster, she served as Secretary of State for Digital, Culture, Media and Sport from 24 July 2019 to 13 February 2020, Chair of the House of Commons Treasury Select Committee between 2017 to 2019 and Education Secretary and Minister for Women and Equalities from July 2014 to July 2016. She served as Assistant Whip in the coalition government until her appointment as Economic Secretary to the Treasury in October 2013. A qualified solicitor, Nicky practised corporate law before entering politics.
Nicky is a member of the Santander UK, Association of British Insurers, Science Museum Group and Careers & Enterprise Company Boards, a member of the UK Advisory Board at Grayling and she also chairs the Trustee Board of a mental health charity in Loughborough.
Wendy Williams CBE Appointed 1 September 2020.
Wendy Williams is HM Inspector of Constabulary and HM Inspector of Fire & Rescue Services. She has responsibility for 13 police forces across Wales and the West of England and 11 fire and rescue services in the West of England. She was previously a Chief Crown Prosecutor with the Crown Prosecution Service and a solicitor and partner in private practice.
Wendy is also the author of the independent Windrush Lessons Learned Review into the Home Office and its handling of events leading up to the Windrush scandal. This was presented to Parliament in 2020. More recently, The Home Secretary invited Wendy to consider the progress made by the department in implementing her 30 recommendations, and her Windrush Lessons Learned Review Progress Update was published in 2022.
In 2023, Wendy joined the Advisory Board for the University of Cambridge Judge Business School, as well as the Oxford and Cambridge Universities’ Close the Gap Advisory Board.
Wendy was awarded a CBE in the Queen’s New Year Honours list of 2021.
Alyson Levett Appointed 1 July 2023.
Alyson is a Chartered Accountant and has held leadership roles for over 20 years across a number of sectors including software, telecommunications, consumer services, fast moving consumer goods (FMCG) and manufacturing. Most recently she was Chief Financial Officer of i-nexus Global plc for 10 years with a strategic role alongside finance operations and she led them onto the AIM market in an initial public offering (IPO) in 2018.
Alyson brings to the Board a strong track record in change management and a detailed understanding of software, technology, risk management and cyber security. Alyson is also the Chair of the Audit and Risk Committee of AMTE Power plc and a volunteer mentor/advisor at The Cranfield Trust.
Richard Harvey Appointed 1 March 2025
Richard has had a 35-year Retail banking career, having held senior executive positions at HSBC, GE Money and Barclays. He has broad risk committee and board experience both in the UK and Internationally.
Richard worked most recently at HSBC, as the Global Head of Retail Banking products, where he also led major analytics and digital transformation programmes.
Richard brings to the Board a good understanding of working within the public sector, as a non-executive director of the Money and Pension Service, where he currently sits on the audit and devolved nations committees. Richard is also a trustee of a local Citizens Advice.
Mark Suthern Appointed 1 August 2026
Mark Suthern spent 35 years at Barclays Plc, where he was Managing Director and National Head of Agriculture, leading strategy across farming, landed estates and sustainability.
He now holds senior leadership and advisory roles across agriculture, environmental and rural affairs, including at the Environment Agency, the Arthur Rank Centre and the Society of Agriculture. He is also a Lay Canon and Senior Non-Executive at Lincoln Cathedral and a mentor to the Lord Henry Plumb Foundation.
Mark is an organiser of the St George’s House Farming Consultations at Windsor Castle and co-author of the Green Finance Institute’s report Financing the Farming Transition, and the Independent Review of UK Farm Assurance. He has previously held non-executive roles at the Rural Payments Agency, the Farming Community Network, and the University of York’s Fix Our Food Advisory Board.
Tracey McDermott Appointed 1 August 2026
Tracey McDermott is a lawyer by background and spent 15 years at the UK’s Financial Services Authority (FSA) and its successor organisation, the Financial Conduct Authority (FCA), culminating as acting CEO. Her previous notable positions include Director of Enforcement and Financial Crime and Director of Supervision and Authorisations.
From 2017 to 2024 Tracey was a member of the Global Management Team of Standard Chartered Bank and served as their Chief Compliance Officer and Money Laundering Reporting Officer (MLRO). She now holds a number of advisory and non-executive roles, including as a Non-Executive Director on the Board of The Pensions Regulator (TPR).
Andrew Craddock Appointed 1 August 2026
Andrew has had a 40-year career in financial services with senior roles in Barclays Bank and Allied Irish Bank. He spent the last 12 years as a Chief Executive, first at the Buckinghamshire Building Society and then, from 2018 to April 2026, at the Darlington Building Society.
Alongside his executive career, Andrew has held a range of non-executive and trustee roles. He is currently a Pension Fund Trustee, an independent Governor and Chair of the Audit Committee at Darlington College, and an Ambassador for WizeUp Financial Education, helping young people develop financial and employability skills.
Andrew is a Chartered Fellow of the London Institute of Banking and Finance and a Fellow of the Institute of Leadership.
Executive Directors
Martyn Beauchamp (Chief Executive Officer) Appointed 18 October 2023.
Martyn is a highly experienced financial services Chief Executive and board director who has worked across UK, EU, Middle East, north and south east Asia. Martyn has grown, digitised and transformed businesses for listed, private and state-owned organisations, including 10 years at GE Capital and subsequent spells at Tesco Bank, Sainsbury’s Bank and Apax Partners.
Martyn was formerly a Trustee with Citizens Advice and an independent non-executive director of Charities Aid Foundation (CAF) Bank.
Fiona Kidy (Chief Financial and People Officer) Appointed 1 July 2020.
Fiona joined FSCS in 2016 as Head of Financial Management and Funding. Following a period as Acting Chief Financial Officer, Fiona was appointed as Chief Financial Officer and Executive Director on 1 July 2020.
Fiona is a Chartered Accountant who brings diverse and extensive experience spanning over 20 years within the financial services sector, including senior positions at JPMorgan and HSBC. Much of her career has been spent building and leading high-performing finance teams. At JPMorgan, from 2007 onwards she was a director and held senior positions, including Global Controller roles in corporate finance, business management and strategic client initiatives in both London and New York. Prior to joining FSCS, Fiona was at HSBC as a Senior Manager for Global Finance and Technology functions.