FCA appoints new chairman

The Financial Conduct Authority (FCA) has today announced the appointment of Charles Randell CBE (pictured) as its new chairman.

Randell will take over as chair on 1 April, replacing the outgoing John Griffith-Jones.

He will also replace Griffith-Jones as the chair of the Payments Systems Regulator (PSR).

John Griffith-Jones has been the chair of the FCA since its formation in April 2013, and the chair of the PSR since its formation in April 2014.

Randell is currently an external member of the Bank of England’s Prudential Regulation Committee (PRC) and a Non-Executive Board member of the Department for Business, Energy and Industrial Strategy (BEIS).

“I’m very honoured to have the opportunity to chair the FCA and the PSR,” he said. “They do vital work in delivering a stable and trusted system of financial regulation which protects consumers while supporting innovation, competition and growth. I look forward to working with colleagues at both organisations as they continue their mission.”

The chancellor of the Exchequer, Philip Hammond, said:

“I am delighted to appoint Charles Randell as chair of the FCA. Charles has a wealth of relevant experience, and I am sure that he will prove to be a strong leader at this very important time.

“I would like to thank the outgoing Chair, John Griffith-Jones, for his service. He has been instrumental in establishing the FCA and PSR as highly effective organisations which are critical parts of the UK financial regulatory system. I wish him all the best for the future.”

And finally, John Griffith-Jones, the outgoing chairman of the FCA said:

“I am delighted that Charles Randell has been appointed as my successor and I wish him every success in the role.”