The Financial Conduct Authority is to launch a recruitment drive and expects to add 200 new staff by the end of the first quarter.

Around 60 new staff joined the regulator in January.

The regulator is recruiting for several senior roles across supervision, competition and policy enforcement.

The regulator will soon announce a new finance director.

The FCA has seen 95 new members of staff join its authorisations team to speed up its authorisations process.

The recruitment drive was revealed by FCA executive director for markets Sarah Pritchard  at the City & Financial Global Future of UK Financial Regulation Summit.

The recruitment drive comes as the FCA faces strike action from many of its staff over concerns about cost-cutting at the regulator including a move to end or reduce bonuses for many staff.

In a ballot run by Unite, the union representing staff,  87% of staff at the regulator voted to support industrial action.

Tensions continue to build between staff and management at the FCA, and unless a negotiated settlement is reached Unite expects to proceed to a full industrial action ballot.

Unite said the proposed cost-cutting measures would turn the FCA into a “bargain basement” regulator.