By PAUL O’DONOGHUE, Senior Correspondent
SARAH Pritchard has been appointed deputy chief executive of the UK’s Financial Conduct Authority (FCA).
The regulator said the new deputy CEO role role has been created to “reflect the FCA’s expanding remit”.
It said this included “the integration of the Payment Systems Regulator”. It also namechecked “regulation of stablecoin and crypto firms as well as buy now pay later activities”.
“As deputy chief executive, Sarah will also support the FCA’s increasingly international focus, given its role supporting UK growth and competitiveness,” the FCA said.
Ms Pritchard, deputy chief executive of the FCA, said: “The last 4 years has been marked by significant reform.
“I am looking forward to working even more closely with Nikhil so there is no let up in the pace of change, and to ensure we have the right relationships, domestically and internationally, to deliver our ambitious strategy.”
Sarah Pritchard FCA career
Ms Pritchard joined the FCA in June 2021 to jointly lead the supervision, policy and competition division. She has most recently been responsible for consumers and competition, having previously led the FCA’s markets function.
Ms Pritchard also has executive responsibility for the FCA’s international work and personally spearheaded recent G20/Financial Stability Board work on leverage in non-bank financial institutions.
Nikhil Rathi, chief executive of the FCA, said: “Since joining us, Sarah helped bring together our supervision, policy and competition functions. [She] has led some of our most high-profile work. For example, the once-in-a-generation overhaul of the listing rules and landmark work on financial advice and guidance.
“Delivering our ambitious new strategy is a collective endeavour and relies on continued reform. Sarah’s breadth of experience, in both public and private sectors, makes her ideally placed to help me drive this.”
Ashley Alder, chair of the FCA, said: “The international environment is complex, our remit is growing and expectations of us continue to evolve.
“The board fully supports Sarah taking on the role of deputy chief executive to help Nikhil lead the FCA day-to-day and cultivate our key relationships. Sarah has proven her ability to drive reform and deliver bold proposals at pace.”
The FCA said Ms Pritchard has already taken up the deputy chief executive role. “There will be no immediate change to her areas of responsibility,” the organization said.
Prior to joining the FCA, Sarah was the director of the National Economic Crime Centre (NECC). The NECC is an anti-financial crime unit which is part of the UK’s National Crime Agency (NCA. Before then, she was general counsel/legal director for the NCA.
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