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FCA names new chief executive

FCA names new chief executive | Insurance Business

FCA names new chief executive

The Financial Conduct Authority (FCA) has today announced the appointment of Nikhil Rathi as its new permanent chief executive of the Financial Conduct Authority (FCA). Rathi, who is currently the chief executive of London Stock Exchange plc. previously worked as director, financial services group at HM Treasury, where he led the Treasury’s work on the UK’s EU and international financial services interests.

Rathi is expected to take up his new role at the FCA in the autumn and, speaking on his appointment, Charles Randell, the chair of the FCA said he is looking forward to working with Rathi as he leads the FCA in delivering the next phase of its mission.

“Nikhil has been closely involved in guiding the FCA’s development through his roles on our Practitioner Panel and Markets Practitioner Panel,” he said, “and brings both private sector management skills and experience of domestic and international regulatory policymaking.”

Randell also expressed his thanks to Christopher Woolard for guiding the FCA through its initial response to COVID-19 with energy and skill, and for his exemplary leadership during the crisis.

Speaking on his appointment, Rathi said he is honoured to be appointed chief executive and is looking forward to building on both the legacy of Andrew Bailey and the leadership of Woolard and the FCA executive team during the crisis.

“FCA colleagues can be very proud of their achievements in supporting consumers and the economy in all parts of the UK in recent months,” Rathi said. “In the years ahead, we will create together an even more diverse organisation, supporting the recovery with a special focus on vulnerable consumers, embracing new technology, playing our part in tackling climate change, enforcing high standards and ensuring the UK is a thought leader in international regulatory discussions.”