HM Treasury has started the search for Charles Randell’s replacement as the next chair of the FCA.
While the search for a permanent successor concludes, Richard Lloyd OBE will act as interim chair of the FCA from 1 June 2022. Aidene Walsh will act as interim chair of the PSR from 1st April 2022.
Lloyd is currently the senior independent director of the FCA Board, and is chair of the Independent Parliamentary Standards Authority and vice-chair of the Money and Mental Health Policy Institute. He has previously held executive positions at Which?, Consumers International and Shelter.
Walsh is currently a non-executive director of the PSR, and an executive director with Banking Competition Remedies Ltd (BCR), the organisation established to implement the Alternative Remedies Package of measures agreed between the UK Government and the European Commission.
Prior to joining BCR, she was CEO of The Fairbanking Foundation after senior roles in global transaction banking.
Randell said: “I am very pleased that both Richard and Aidene have agreed to chair the FCA and PSR Boards on an interim basis while the search for my permanent successor concludes. I am confident that under their leadership both organisations will continue to deliver on their strategies to become more agile and assertive regulators.”
Lloyd added: “I’m honoured to be asked to be interim chair of the FCA. The FCA Board is hugely grateful to Charles Randell for all that he has done over the last four years as chair.
“Charles is an outstanding public servant who has worked tirelessly to support consumers and businesses through the most turbulent of times.
“Under his leadership, wide-ranging improvements to the way the FCA does its job are already making a positive difference for the financial services industry and millions of people’s lives.“
Walsh added: “The PSR Board and Executive team are extremely grateful to Charles for his leadership as chair since 2018.
“He has taken the PSR on its development journey to a mature and robust regulator and has recently delivered its five year strategy and demonstrated that it will intervene to ensure good outcomes for users of payment systems.
“I am delighted to be asked to be interim chair building on the strong foundations Charles has set in what is a fast-evolving payments sector.”
