HM Treasury has today announced the appointment of Charles Randell CBE as the new Chair of the Financial Conduct Authority (FCA).
Charles is currently an external member of the Prudential Regulation Committee of the Bank of England and a non-executive board member of the Department for Business, Energy and Industrial Strategy.
Charles will take up the role on 1 April 2018. The appointment is for a five year term.
John Griffith-Jones, Chair of the FCA commented:
“I am delighted that Charles Randell has been appointed as my successor and I wish him every success in the role.”
Andrew Bailey, FCA Chief Executive commented:
“I am very pleased to welcome Charles to the FCA. His experience of regulation, both during the financial crisis and more recently as a member of the Prudential Regulation Committee, mean that he has a strong understanding of the challenges that the FCA faces and I look forward to tackling these with him in his new role.”
Charles Randell worked at Slaughter and May from 1980 to 2013, becoming a partner in 1989. He specialised in corporate finance law, and worked on financial stability and bank restructuring assignments.
He advised HM Treasury on the resolutions of Northern Rock, Bradford & Bingley and the Icelandic banks; the Government's investments into RBS and the merged Lloyds/HBOS; and the Asset Protection Scheme. Charles also advised the Portuguese Ministry of Finance on the recapitalisation of the Portuguese banking sector.
Charles is a member of the Prudential Regulation Committee of the Bank of England; a Non-Executive Director and Chair of Audit and Risk Assurance Committee, Department for Business, Energy and Industrial Strategy; and a Visiting Fellow in financial services regulation at Queen Mary University of London.
Notes to editors
- HM Treasury's announcement[1]
- Charles Randell photo[2]
- On 1 April 2013, the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
- The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
- Find out more information about the FCA.