UK financial watchdog shuffles pack as it hunts for new CEO

LONDON (Reuters) - Britain's Financial Conduct Authority named Megan Butler on Thursday as director of supervision from September for a year while the watchdog searches for a new boss. The FCA's current director of supervision for wholesale markets, Tracey McDermott, will become acting chief executive of the watchdog while it finds a new chief executive to replace Martin Wheatley, who is leaving mid-September. Butler, a barrister who has been a supervisor since 2008, is currently executive director of international banks at the Bank of England and will be on a year's secondment to the FCA. Wheatley quit after Britain's finance ministry refused to extend his contract, which was due to end next March. Sarah Breeden, director of the BoE's overseas banks division, will fill Butler's role at the central bank during the secondment. (Reporting by Huw Jones; Editing by Elaine Hardcastle)