London Stock Exchange

Nikhil Rathi to Join UK’s FCA as New CEO

LSEG
LSEG

Her Majesty’s Treasury UK revealed in its latest announcement that it has appointed Mr. Nikhil Rathi – current Chief Executive Officer of London Stock Exchange Plc to succeed Mr. Andrew Bailey as Chief Executive Officer of Financial Conduct Authority. His new role is set to come into effect in autumn when he takes on the role of interim CEO Mr. Christopher Woolard who took on the role earlier this year. Aside from his current role as CEO of LSE Plc, he also holds a group-wide role as Director – Internal Development having been a part of LSEG since 2015. He also holds the roles of Non-Executive Director of Turquoise Global Holdings Ltd and Director at Unavista Ltd. 

Earlier in his career, he had been a part of HM Treasury as Director of Financial Services Group and has led the work pertaining to the UK’s EU and international financial services interests as a member of the department. Nikhil will cut all ties with LSEG when he takes on his new role at FCA including giving up his remaining interests in LSEG shares and awards under the long-term incentive plans. At FCA, he will be paid an annual salary of 445,000 GBP of which 12% will be directed towards his pension. Nikhil is also not entitled to any other paid benefits or bonuses aside from his annual pay. 

Commenting on Nikhil’s appointment, Mr. Charles Randell – Chairman of FCA said “I warmly welcome Nikhil to the FCA. I look forward to working with him as he leads the FCA to deliver the next phase of its mission. Nikhil has been closely involved in guiding the FCA’s development through his roles on our Practitioner Panel and Markets Practitioner Panel, and brings both private sector management skills and experience of domestic and international regulatory policymaking. ” and added “I would also like to thank Christopher Woolard for steering the FCA through its initial response to Covid-19 with great energy and skill. He has been an exemplary leader in this very difficult period”.  

Speaking about his new role, Mr. Nikhil Rathi said “I am honored to be appointed Chief Executive of the Financial Conduct Authority. I look forward to building on the strong legacy of Andrew Bailey and the exceptional leadership of Christopher Woolard and the FCA Executive team during the crisis. FCA colleagues can be very proud of their achievements in supporting consumers and the economy in all parts of the UK in recent months. In the years ahead, we will create together an even more diverse organization, supporting the recovery with a special focus on vulnerable consumers, embracing new technology, playing our part in tackling climate change, enforcing high standards, and ensuring that the UK is a thought leader in international regulatory discussions”.