HM Treasury announces appointment of Nikhil Rathi as FCA’s Chief Exec
Mr Rathi will succeed Christopher Woolard, who has acted as interim Chief Executive since Andrew Bailey stepped down from the post in March 2020.
HM Treasury have today announced the appointment of Nikhil Rathi as the new permanent Chief Executive of the UK Financial Conduct Authority (FCA).
Mr Rathi will succeed Christopher Woolard, who has acted as interim Chief Executive since Andrew Bailey stepped down from the post in March 2020. Mr Rathi is being appointed for a five-year term. Christopher Woolard will continue as interim Chief Executive until his appointment begins.
Nikhil Rathi is currently the Chief Executive Officer of London Stock Exchange plc and Director of International Development, London Stock Exchange Group. His background and experience are in public policy and financial services regulation, following a distinguished career at the Treasury. Since 2014, he has worked at the London Stock Exchange, as Director for International Development and as Chief Executive of London Stock Exchange plc.
Mr Rathi is expected to take up the role in the Autumn.
Nikhil Rathi commented:
“In the years ahead, we will create together 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.”
Nikhil Rathi will be paid an annual salary of £455,000, 12% pension, and will not be entitled to a bonus or paid any other benefits.
It has been agreed that he will have no remaining interests in LSE Group shares, whether under Long Term Incentive Plans or otherwise, at the point he joins the FCA. It has also been agreed that he will not be involved in supervisory or enforcement decisions relating to the LSE Group until 22 June 2021.
