Nikhil Rathi Appointed As Chief Exec Of FCA, Says HM Treasury

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Today, HM Treasury officially announced that Nikhil Rathi would be appointed as the new, permanent Chief Executive when it comes to the UK’s Financial Conduct Authority, or FCA.

Going From LSE To FCA

Rathi stands as the successor of Christopher Woolard, who served as the Interim Chief Executive ever since March of 2020, when Andrew Bailey stepped down from the post, in turn. Rathi will be appointed for a period of five years, while Christopher Woolard will continue serving as the Interim Chief Executive until Rathi’s appointment officially commences.

Rathi stands as the current Chief Executive Officer of London Stock Exchange plc. Alongside this, he stands as the director of International Development for the London Stock Exchange Group. His primary experience and background are within the financial services regulation and public policy spaces, and the man himself holds a distinguished career at the Treasury. He had worked for the London Stock Exchange ever since 2014, serving as a Director of International Development and Chief Executive for London Stock Exchange plc.

Experience Is Everything

As it stands now, it’s expected that Mr. Rathi will take up the role of Chief Executive in Autumn.

Nikhil Rathi gave a comment about the matter at large. He explained that the years ahead would see that they will create an even more diverse organization together. He stated that they would support the recovery through the use of a special emphasis on vulnerable consumers, as well as embracing new technologies alongside it. Rathi further promises that the FCA will do its part when it comes to addressing climate change, as well as ensuring that the UK is the thought leader regarding international regulatory discussions. Alongside this, Rathi plans on enforcing the high standards of the FCA, as well.

Many Stipulations Needed

Rathi stands to be paid an annual salary of £455,000. 12% of this salary will be designated to pension, and he will not be entitled to a bonus, or otherwise paid any other form of benefit from it.

Furthermore, it had been agreed upon that Rathi would have no interests remaining within LSE Group shares, regardless of whether they were under Long Term Incentive Plans, or otherwise. This will be mandated by the point he officially joins the FCA. Further conditions are in regard to his involvement, or the mandated abstinence of, the supervision and enforcement decisions when it comes to the LSE Group, until the 22nd of June, 2021.

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