Nikhil Rathi has been reappointed as chief executive of the Financial Conduct Authority (FCA) for a second five-year term, ending in September 2030.
His reappointment was confirmed by Chancellor Rachel Reeves, who emphasised the importance of continuity in leadership for ongoing regulatory reforms aimed at boosting growth.
Reeves said: “Nikhil Rathi has been crucial in this government’s efforts to reform regulation so it supports growth and boosts investment – I am delighted he will be continuing his leadership of the FCA.
“We want the FCA to go further and faster to deliver this government’s Plan for Change and we look forward to continuing to work together to achieve this.”
Nikhil Rathi, chief executive of the FCA, said: “I am honoured to be reappointed by the Chancellor.
“The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy.
“I am proud of the reforms we have delivered to support growth, bolster operational effectiveness, set higher standards and to keep our markets clean and open.”
Rathi added: “While we must go further and faster in this age of volatility, the UK is well placed as a major international financial centre.”
Ashley Alder, chair of the FCA, said: “I am delighted Nikhil has been reappointed. He’s the right leader in testing times.
“His exemplary first term as chief executive has ensured the FCA is an organisation transformed.
“We’ve set a new standard for consumer protection, made it easier for businesses to access capital and quicker for firms to get authorised.
“That provides the solid foundation to deliver our ambitious new strategy – to deepen trust, rebalance risk, support growth and improve lives.”
