The Chairman of the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) John Griffith-Jones has confirmed his intent to depart both agencies at the end of his term in March 2018. Griffith-Jones was appointed as the first FCA Chair in 2013, He became Chair of the PSR when it was established in April 2014.
Griffith-Jones commented on the announcement of his departure;
“I committed to a five year fixed term to chair the FCA and, in so doing, to help ensure that conduct regulation became a respected part of the UK financial landscape. It has been, and continues to be, a great privilege to be responsible for the work of both the FCA and the PSR. I like to believe that I will leave both in good shape to regulate well in the future.”
The Chancellor of the Exchequer, the Rt Hon Philip Hammond MP, thanked Griffith-Jones for his work as Chairman of both the FCA and the PSR.
“Both undertake a vital role in ensuring that the UK financial markets work well and that the interests of consumers and users of those markets are protected. John Griffith-Jones has provided strong leadership to both Boards during his tenure, helping to establish them as key parts of the UK financial regulatory system.”
Prior to joining the FCA, Griffith-Jones was Chairman of KPMG Europe from 2007 to 2012. Griffith-Jones sits on the Advisory Board of the Cambridge Judge Business School. He studied Economics at Trinity Hall, Cambridge.
HM Treasury has announced it will now commence the process for recruiting a new Chair for the FCA.