The Financial Services Authority today brought its search for a new head of its enforcement and financial crime unit to an end by handing the role to acting director Tracey McDermott.

McDermott, who joined the FSA as an associate in the enforcement unit in 2001, was put in interim charge of the division in April last year. This appointment was made after the previous incumbent Margaret Cole was named managing director of the FSA's conduct business unit - which will transition into the new Financial Conduct Authority under the UK's new financial services regulatory set-up early next year.