Rishi Sunak, the Chancellor of the Exchequer, has confirmed that Nikhil Rathi has been appointed for five years as the new Chief Executive of the Financial Conduct Authority (FCA). The previous Chief Executive was Andrew Bailey, who stood down in March 2020, with Christopher Woolard having held the role temporarily.
Sunak said in a statement:
“Nikhil is the outstanding candidate for the position of Chief Executive of the Financial Conduct Authority, and I am delighted that he has agreed to take up the role.
We have conducted a thorough, worldwide search for this crucial appointment and, through his wide-ranging experiences across financial services, I am confident that Nikhil will bring the ambitious vision and leadership this organisation demands. I would also like to thank Christopher Woolard for the excellent job he has done in leading the FCA in this challenging period. His experience, dedication and professionalism have been greatly appreciated.”
“I am honoured to be appointed Chief Executive of the Financial Conduct Authority. I look forward to building on the strong legacy of Andrew Bailey and the exceptional leadership of Christopher Woolard and the FCA Executive team during the crisis. FCA colleagues can be very proud of their achievements in supporting consumers and the economy in all parts of the UK in recent months.
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.”