Charles Randell named as FCA and PSR chair
Written by Chris Lemmon
Charles Randell has been appointed as the new chair of the Financial Conduct Authority (FCA) and the Payments Systems Regulator (PSR).
Randell, who will take up both roles on 1 April 2018 for a five-year term, is currently an external member of the Prudential Regulation Committee of the Bank of England, and a non-executive board member for the Department for Business, Energy and Industrial Strategy.
Randell also worked at Slaughter and May from 1980 to 2013, becoming a partner in 1989 – specialising in corporate finance law and working on financial stability and bank restructuring assignments.
He advised the Treasury on the resolutions of Northern Rock, Bradford & Bingley and the Icelandic banks, as well as the government's investments into RBS and the merged Lloyds-HBOS group.
Andrew Bailey, chief executive of the FCA, said: “I am very pleased to welcome Charles to the FCA. His experience of regulation, both during the financial crisis and more recently as a member of the Prudential Regulation Committee, mean that he has a strong understanding of the challenges that the FCA faces and I look forward to tackling these with him in his new role.”
Hannah Nixon, PSR managing director, stated: “I’d like to welcome Charles as our new chair. The payments industry is undergoing significant change, driven by changing consumer needs, technology and our own interventions. Having someone with Charles’ financial and regulatory experience as our chair will be invaluable in successfully achieving our goals. I look forward to working with him.”
John Griffith-Jones, current chair of the FCA and PSR, added: “I am delighted that Charles Randell has been appointed as my successor and I wish him every success in the role.”