UK Exchequer appoints ex-SFC CEO Ashley Alder as FCA Chair
Her Majesty’s Treasury, sometimes referred to as the Exchequer, has appointed Ashley Alder as the new Chair of the Financial Conduct Authority (FCA), effective January 2023. Hired for a five-year term, Ashley Alder joins the UK FCA from the Securities and Futures Commission (SFC) in Hong Kong, where he was Chief Executive Officer since 2011. […]
Her Majesty’s Treasury, sometimes referred to as the Exchequer, has appointed Ashley Alder as the new Chair of the Financial Conduct Authority (FCA), effective January 2023.
Hired for a five-year term, Ashley Alder joins the UK FCA from the Securities and Futures Commission (SFC) in Hong Kong, where he was Chief Executive Officer since 2011.
Ashley Alder also chairs the Board of the International Organization of Securities Commissions (IOSCO) and sits on the Financial Stability Board’s Plenary and its Steering Committee.
The new Chair of the FCA began his career as a lawyer in London in 1984 and went to Hong Kong in 1989 with the international law firm Herbert Smith, practicing corporate and business law. He was Executive Director of Corporate Finance at the SFC from 2001 to 2004, before returning to Herbert Smith, later as head of the firm’s Asia Region. He rejoined the SFC in 2011.
Mr. Alder attained his Bachelor of Laws degree from the University of London in 1982 and graduated from the University of Cambridge with a Master of Laws degree in 1983.
Richard Lloyd, Interim Chair of the FCA, commented: “We are looking forward to working with Ashley as he takes over the leadership of the FCA’s Board next year. As the FCA continues to strengthen its vital work to protect consumers and our financial markets, his deep experience of leading a major international regulator will help us deliver our ambitious strategy for the future.”
As part of the executive reshuffle in the UK’s financial watchdog, Alice Maynard and Liam Coleman were reappointed to chair the FCA’s Audit and People Committees for their second three-year terms.
Ashley Alder’s term at the SFC ended on 30 Sept 2023
Mr. Alder has been Chief Executive Officer of the Securities and Futures Commission since 1 October 2011, with the latest appointment expiring on 30 September 2023.
He leaves his post earlier after carrying out reforms to tackle risks and misconduct, as well as helping nurture the Stock Connect, Bond Connect and ETF Connect schemes.
The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) have jointly announced the launch of the widely awaited ETF Connect. Trading commenced on 4 July 2022.
This comes as an opportunity for international market participants to gain exposure to Mainland China and its fast-growing emerging economy.