Rathi lands top regulator job
LONDON STOCK EXCHANGE HEAD TO BE FINANCE WATCHDOG CEO
CHANCELLOR Rishi Sunak has picked London Stock Exchange head Nikhil Rathi as the new chief executive of the Financial Conduct Authority, the conduct regulator for the UK’s financial markets and more than 59,000 financial services firms.
“Nikhil is the outstanding candidate for the position of chief executive of the Financial Conduct Authority (FCA). I am delighted that he has agreed to take up the role,” Sunak said on Monday (22).
“We have conducted a thorough, worldwide search for this crucial appointment and, through his wide-ranging experiences across financial services, I am confident that Nikhil will bring the ambitious vision and leadership this organisation demands,” he added.
Rathi previously worked at the Treasury as director of the Financial Services Group between 2009 and 2014 before taking on his current private sector role at the London Stock Exchange.
He said, “In the years ahead, we will create 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.”
As per the terms of his new £455,000-ayear role at the FCA, Rathi will have no remaining interests in London Stock Exchange Group shares once he takes up his post in a few months’ time.