FCA appoints new chair

Ashley Alder has been announced by HM Treasury as the new chair of the Financial Conduct Authority (FCA) and is expected to take up the role in January 2023, taking over from Richard Lloyd who has served as interim chair since May 2022.

Alder is currently chief executive officer of the Securities and Future Commission (SFC) in Hong Kong, a role he has held since 2011, and also chairs the board of the International Organisation of Securities Commissions (IOSCO) and sits on the Financial Stability Board’s Plenary and its Steering Committee.

Alder began his career as a lawyer in London in 1984 and practised in Hong Kong for more than 20 years.

Additionally, he was executive director of the SFC’s corporate finance division from 2001 to 2004, before returning to private practice at Herbert Smith LLP, a law firm, as head of Asia.

Alder welcomed his appointment by commenting: “It’s a great privilege to have the opportunity to chair the FCA, whose core work is so vital to the financial health of consumers.

“I also value the opportunity to contribute to a crucial phase in the FCA’s history as it helps chart the UK’s post-Brexit future as a global financial centre which continues to support innovation and competition through its own world-leading regulatory standards.”

FCA interim chair, Richard Lloyd, added: “We are looking forward to working with Ashley as he takes over the leadership of the FCA’s board next year.

"As the FCA continues to strengthen its vital work to protect consumers and our financial markets, his deep experience of leading a major international regulator will help us deliver our ambitious strategy for the future.”

HM Treasury has also reappointed Dr Alice Maynard and Liam Coleman, who respectively chair the FCA’s Audit and People Committees, to the board for their second three-year terms.

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