The UK government has appointed Nikhil Rathi as the chief executive of the Financial Conduct Authority (FCA).
Rathi is currently the chief executive of the London Stock Exchange and prior to this, he was director of financial services group at HM Treasury.
He will succeed Christopher Woolard, who has acted as interim chief executive since Andrew Bailey stepped down from the post in March 2020.
Rathi will be in the role for a five-year term and Woolard will continue as interim chief executive until his appointment begins.
Thorough and worldwide search
Rishi Sunak, UK chancellor of the exchequer, said: “Nikhil is the outstanding candidate for the position of chief executive of the Financial Conduct Authority.
“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.”
Rathi added: “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.”
