The Payment Systems Regulator (PSR) has announced the appointment of Chris Hemsley as its new managing director.

He has been acting as co-managing director since April, having joined the PSR as head of policy in November 2018, from previous regulatory work as the deputy director of Railway Markets and Economics and chief economist at the Office of Rail and Road.

Previously, Hemsley led the implementation of the government’s new support scheme for large-scale renewable electricity generation and, before that, led the Civil Aviation Authority’s work on competition and consumer protection.

The change was necessitated by the departure of the PSR’s first managing director Hannah Nixon, who announced her departure in February.

Charles Randell, chair of the PSR, said that the appointment marks the next phase of the regulator’s development.

“Chris has a wealth of experience of the regulatory landscape, and since joining the PSR he’s gained a clear insight into the opportunities and challenges of this industry, which plays a critical role in the economic lives of the UK’s consumers and businesses."

Hemsley noted that there are major changes underway in how we make payments, including how much we are using cash and the renewal of the systems behind most of our electronic payments.

“I look forward to working closely with consumer groups, industry and government to ensure that the UK has modern, resilient and innovative payment systems.”

Louise Buckley, who has also been acting as co-managing director since April, will resume her role as chief operating officer for the PSR.

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