HM Treasury has today announced the appointment of Charles Randell CBE as the new Chair of the Financial Conduct Authority (FCA).
Charles Randell 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.
Randell 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
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 Randell 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.