Former funds trade body head joins FCA

LONDON (Reuters) - Daniel Godfrey, who suddenly quit as the head of Britain's main funds industry trade body, has joined the Financial Conduct Authority as an adviser, the watchdog said on Friday.

Godfrey has been hired on a short-term contract to advise on asset management, an FCA spokeswoman said. She declined to say if he will be working on a long-awaited review of fees in the sector.

Godfrey was chief executive of the Investment Association and quit abruptly last October following reports that several members were on the verge of leaving the organisation.

Sources said at the time that some IA members were concerned that Godfrey was acting too much like a regulator with his focus on transparency of fund fees and remuneration.

Separately, the FCA said on Friday that Megan Butler has been appointed permanently to the role of director of supervision, investment, wholesale and specialists.

She had previously been in the role on secondment from the Bank of England's Prudential Regulation Authority where she was executive director of international banks.

The announcement comes as another BoE official, Deputy Governor Andrew Bailey, is about to take up the reins at the FCA in July.

(Reporting by Huw Jones; editing by Susan Thomas)