FCA hires new CEO

By Daniel Lanyon on Tuesday 23 June 2020

Alternative LendingDigital BankingSavings and Investment

Nikhil Rathi takes over the reins from Chris Woolard, who has served as interim chief since the departure of Andrew Bailey, now Bank of England Governor.

FCA hires new CEO
Image source: FCA/Nikhil Rathi

Nikhil Rathi has been appointed as the new CEO of the UK financial regulator the FCA, taking up the post in the autumn. 

Rathi, current CEO of the London Stock Exchange Group, is 41 and a rising star in both the City and Whitehall. 

He joined LSEG back in May 2014 as Director of International Development and Chief of Staff from the UK Treasury, where he held a number of senior positions over an eleven year period. Most recently he was Director of the Financial Services Group, representing the UK Government’s financial services interests in the EU and internationally.

He also served as the UK representative on the EU Financial Services Committee and before this was Head of the Financial Stability unit, overseeing a number of the UK’s financial stability interventions during the financial crisis. He also served as Private Secretary to the UK Prime Minister for three years from 2005 to 2008

Rathi takes over the reins from Chris Woolard interim CEO since the departure of Andrew Bailey.  Both Woolard and Bailey are fintech enthusiasts and Rathi looks set to also set an ambitious agenda for financial disruptors. 

Chair of the FCA, Charles Randell, said: I warmly welcome Nikhil to the FCA. I look forward to working with him as he leads the FCA to deliver 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, and brings both private sector management skills and experience of domestic and international regulatory policymaking."

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.”

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