FCA appoints Nikhil Rathi new chief executive

Nikhil Rathi is the new chief executive at the FCA

22 June 2020

The Treasury has appointed Nikhil Rathi as the new chief executive at the Financial Conduct Authority.

Rathi succeeds Christopher Woolard, who acted as interim chief at the FCA following former boss Andrew Bailey’s appointment as the Governor at the Bank of England.

He will be in post for a fixed five-year term.

Chancellor of the Exchequer, Rishi Sunak, said: “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.”

Rathi said: “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.”

Prior to joining the LSE, Rathi worked for the Treasury between 2009 and 2014 where he led on the UK’s EU and international financial services interests.

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