FCA's McDermott and Aldermore CEO named in Queen’s honours list

Also named in the Queen's honours list is CEO of Aldermore Phillip Monks, who received an OBE for "services to banking".

Other financial names included were Office of Tax Simplification Director John Whiting (who also announced that he was stepping down from the role) and the CEO of UK Asset Resolution Richard Banks for "services to taxpayers".

Last month, the record-breaking £13 billion sale of former Northern Rock mortgages completed. UKAR sold the portfolio of mortgages for £280 million more than their book value. In a statement, the government said it is 'clear' that taxpayers will get back more money from Northern Rock than they were forced to put in during the financial crisis.

Tracey McDermott announced that she would not take up the Chief Executive role on a permanent basis, and would instead be leaving the organisation.

Andrew Bailey was appointed as the new Chief Executive on 26 January and is due to take up the position on the 1 July 2016.