FCA appoints new deputy chief executive

The FCA has promoted Sarah Pritchard to the newly created role of deputy chief executive.

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.

There will be no immediate change to her areas of responsibility as deputy chief executive, but she will further support the FCA’s increasing international focus.

Pritchard said: “The last four years has been marked by significant reform.

“I am looking forward to working even more closely with Nikhil Rathi (FCA chief executive), 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.”

Expanding remit

The FCA said the new role had been created to reflect its expanding remit, with the integration of the payment systems regulator, regulation of stablecoin and crypto firms, as well as buy now pay later activities.

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 Pritchard taking on the role of deputy chief executive to help Rathi lead the FCA day-to-day and cultivate our key relationships. She has proven her ability to drive reform and deliver bold proposals at pace.”

Rathi added: “Delivering our ambitious new strategy – to deepen trust, rebalance risk, support growth and improve lives – is a collective endeavour and relies on continued reform.

“Pritchard’s breadth of experience, in both public and private sectors, makes her ideally placed to help me drive this.”