The Financial Conduct Authority (FCA) has announced that Sarah Pritchard will be taking on the newly created role of deputy chief executive.

The new role is designed to support the UK financial watchdog’s expanded remit, with the recent integration of the Payments Systems Regulator and work on the regulation of stablecoin, crypto firms, and Buy Now, Pay Later.

The organisation said that Pritchard will also support the its increasingly international focus, given its role supporting UK growth and competitiveness.

Pritchard first joined the FCA in June 2021 to jointly lead the supervision, policy and competition division.

She has most recently been responsible for consumers and competition, having previously led the FCA’s markets function.

The new deputy chief exec also has executive responsibility for the FCA’s international work, having personally spearheaded recent G20/Financial Stability Board work on leverage in non-bank financial institutions.

“Since joining us, Sarah helped bring together our supervision, policy and competition functions and has led some of our most high-profile work, for example the once-in-a-generation overhaul of the listing rules and landmark work on financial advice and guidance," said Nikhil Rathi, chief executive of the FCA. “Delivering our ambitious new strategy – to deepen trust, rebalance risk, support growth and improve lives – is a collective endeavour and relies on continued reform. Sarah’s breadth of experience, in both public and private sectors, makes her ideally placed to help me drive this.”

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