Lesley Titcomb, previously the Chief Operating Officer at the Financial Services/Conduct Authority between 2010 and 2015, is going to leave her job as head of the UK's Pensions Regulator at the end of her four-year contract in February.

She went immediately from her FCA job (where she had organised the old FSA's transition to the 'Twin Peaks' model of regulation) to the Pensions Regulator, where her full-time salary band was only £200,000 - £210,000. This was something of a comedown, as the FCA report and accounts showed her earning a basic salary of £250,000 in the year to 31 March 2015. Her departure was surprising also because she had previously spent 20 years at the FCA and its predecessor bodies, thereby exhibiting considerable dedication to her organisation.

Two Parliamentary committees (the business committee and Frank Field's work and pensions committee) have criticised the regulator of late, but not in relation to banking or wealth management. It is not known whether Titcomb has another regulatory job in her sights.