UK govt re-appoints Indian-origin Nikhil Rathi as CEO of financial regulatory body till 2030

An Indian-origin chief executive officer, Nikhil Rathi, has been reappointed to lead the United Kingdom’s Financial Conduct Authority (FCA), a financial regulatory body for a second five-year term, extending his tenure until September 2030.

“Nikhil Rathi has been crucial in this government’s efforts to reform regulation so it supports growth and boosts investment – I am delighted he will be continuing his leadership of the FCA. We want the FCA to go further and faster to deliver this government’s Plan for Change and we look forward to continuing to work together to achieve this,” said Chancellor of the Exchequer Rachel Reeves.

Rathi said, “I am honoured to be reappointed by the chancellor. The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy. I am proud of the reforms we have delivered to support growth, bolster operational effectiveness, set higher standards and to keep our markets clean and open. While we must go further and faster in this age of volatility, the UK is well placed as a major international financial centre.”

The UK government said Rathi will lead the FCA as it continues its efforts to make the UK the “best place to do business by removing unnecessary, outdated and duplicate regulations”, while ensuring consumers are protected from detriment and can be confident in markets.

“Last December, the Prime Minister Keir Starmer and Chancellor set the FCA the challenge of coming up with ideas to boost economic growth.  Since then, the FCA, under the leadership of Nikhil Rathi, has stepped up to this challenge to come up with a series of policy changes to boost growth, which will have benefits in the real economy,” said UK govt.

Who is Nikhil Rathi?

Rathi (45) is a financial expert who has his roots in Rajasthan and Madhya Pradesh. He was born and grew up in northern England, as per information.

Rathi was appointed as CEO of the FCA on October 1, 2020. He was previously chief executive of London Stock Exchange (LSE) plc and Director of International Development. Before joining the LSE in 2014, he served in HM Treasury. Rathi is also a member of the Prudential Regulation Committee and the Financial Policy Committee.