Christopher Woolard was named interim CEO of the Financial Conduct Authority, U.K.'s financial services watchdog announced Friday.
Mr. Woolard, FCA's executive director of strategy and competition and executive member of the FCA's board, will replace Andrew Bailey, who was appointed governor of the Bank of England in December. Mr. Bailey takes over from current governor Mark Carney on March 16.
Mr. Woolard will be replaced in his previous position, a spokeswoman at the FCA said.
"I'm looking forward to working with Chris in his interim CEO role. I'm confident that he and executive committee colleagues will continue to deliver our ambitious plans for change in 2020 and beyond, building on the foundations laid by Andrew Bailey," FCA Chairman Charles Randell said in a news release.
"I'm delighted that I've been asked to take on this role," Mr. Woolard said in the release. "We have a huge job to do and I'm looking forward to working with the board and colleagues across the FCA as we continue to deliver the FCA's mission."