Sarah Pritchard has been named deputy chief executive of the Financial Conduct Authority (FCA), a newly created role intended to support the organisation’s expanding scope and sharpen its international engagement.
The appointment comes as the regulator prepares to integrate the Payment Systems Regulator, extend oversight to stablecoin and cryptoasset firms, and bring buy now pay later (BNPL) activities under its remit.
Pritchard, who joined the FCA in June 2021, has been instrumental in leading supervision, policy and competition work. Most recently, she has overseen the regulator’s consumers and competition function and holds executive responsibility for its international portfolio. She also led recent G20 and Financial Stability Board work on non-bank leverage.
Nikhil Rathi, chief executive of the FCA, said: “Since joining us, Sarah helped bring together our supervision, policy and competition functions and has led some of our most high-profile work, for example the once-in-a-generation overhaul of the listing rules and landmark work on financial advice and guidance.
“Delivering our ambitious new strategy – to deepen trust, rebalance risk, support growth and improve lives – is a collective endeavour and relies on continued reform. Sarah’s breadth of experience, in both public and private sectors, makes her ideally placed to help me drive this.”
Ashley Alder, chair of the FCA, added: “The international environment is complex, our remit is growing and expectations of us continue to evolve. The board fully support Sarah taking on the role of deputy chief executive to help Nikhil lead the FCA day-to-day and cultivate our key relationships.”
Commenting on her appointment, Sarah Pritchard said: “The last 4 years has been marked by significant reform. I am looking forward to working even more closely with Nikhil so there is no let up in the pace of change, and to ensure we have the right relationships, domestically and internationally, to deliver our ambitious strategy.”
Pritchard has already taken up her new role. There will be no immediate change to her current areas of responsibility. She also serves as the FCA’s executive director sponsor for the Edinburgh office, which has nearly tripled in size since her arrival.
Prior to joining the FCA, Pritchard was director of the National Economic Crime Centre, and previously held senior legal and compliance roles at the National Crime Agency and HSBC.
