LONDON (UK) – Nikhil Rathi, who heads the London Stock Exchange’s UK arm, has been appointed as chief executive of the Financial Conduct Authority (FCA), said Britain’s finance ministry on Monday.
Rathi is expected to play a significant role in helping Britain’s financial sector to navigate its departure from the European Union, its biggest customer.
“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,” Rathi said in a statement.
When Andrew Bailey left to become governor of the Bank of England, the Christopher Woolard has been handling the FCA on an interim basis since March.
“I am confident that Nikhil will bring the ambitious vision and leadership this organisation demands,” British finance minister Rishi Sunak said.
He has been appointed by the FCA for a five-year term.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field