FCA News

Ashley Alder appointed FCA chair

HM Treasury has today announced the appointment of Ashley Alder as the new Chair of the FCA. Ashley is currently Chief Executive Officer of the Securities and Futures Commission (SFC) in Hong Kong, a role he has held since 2011. Ashley 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. Ashley began his career as a lawyer in London in 1984 and practised in Hong Kong for more than 20 years. He was Executive Director of the SFC’s Corporate Finance Division from 2001 to 2004, before returning to private practice at Herbert Smith LLP, a law firm, as Head of Asia. Ashley is expected to take up his role as FCA Chair in January. He is appointed for a five-year term. HM Treasury has also reappointed Dr Alice Maynard and Liam Coleman, who respectively chair the FCA’s Audit and People Committees, to the Board for their second three-year terms. 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.’ Notes to editors The Chair of the FCA is an appointment made by HM Treasury. The FCA has launched a new strategy to improve outcomes for consumers and in markets throughout the UK in April. Richard Lloyd took over as Interim Chair of the FCA on 1 June 2022. Richard took up the role following the decision by Charles Randell OBE to step down as chair, which was announced in October 2021. Richard will continue as Interim Chair until the New Year. Richard will then resume his role as the FCA’s Senior Independent Director. Ashley will be Chair of the FCA. Aidene Walsh will continue to chair the PSR on an interim basis ahead of a permanent appointment. Recruitment for that role will begin shortly. Liam Coleman was Deputy Chief Executive Officer and subsequently Chief Executive Officer at The Co-operative Bank plc from May 2016 to July 2018. He is currently Chairman of Great Western Hospitals NHS Foundation Trust. Dr Alice Maynard is a Non-Executive Director on the Board of HMRC and is a member of the Government Commercial Office Remuneration Committee. Original Article Here

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