HM Treasury has appointed former lawyer and Bank of England adviser Charles Randell as new chair of Financial Conduct Authority (FCA).
Randell, who is currently an external member of Prudential Regulation Committee of the BoE and a non-executive board member of the Department for Business, Energy and Industrial Strategy, will take up the role on 1 April.
FCA chief executive Andrew Bailey said: “Randell experience of regulation, both during the financial crisis and more recently as a member of Prudential Regulation Committee, means that he has a strong understanding of the challenges that FCA faces and I look forward to tackling these with him in his new role.”
Charles Randell worked at law firm 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 resolutions of Northern Rock, Bradford & Bingley and Icelandic banks; Government’s investments into RBS and merged Lloyds/HBOS; and asset protection scheme. Randell also advised Portuguese Ministry of Finance on the recapitalisation of the Portuguese banking sector.
He is a member of Prudential Regulation Committee of the BoE; 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.