Nikhil Rathi appointed as new chief executive of UK Financial Conduct Authority

Charles Randell, chair of the FCA, said: “I warmly welcome Nikhil to the FCA. I look forward to working with him as he leads the FCA to deliver the next phase of its mission.

“Nikhil has been closely involved in guiding the FCA’s development through his roles on our practitioner panel and markets practitioner panel, and brings both private sector management skills and experience of domestic and international regulatory policymaking.”

Randell also thanked outgoing interim chief executive Christopher Woolard for steering the FCA through its initial response to COVID-19 as an “exemplary leader”.

Rathi said: “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.

“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.”