Former Which? chief Richard Lloyd tipped to be next FCA chair
Richard Lloyd is expected to be named interim chairman of the Financial Conduct Authority (FCA), replacing outgoing chair Charles Randell, according to new reports.
Lloyd has been a non-executive director at the FCA since April 2019. Until 2016 he was chief executive of the consumer awareness brand Which?.
Sky News has reported that Lloyd’s appointment will be announced by the FCA as early as this week.
A spokesperson for the FCA told Peer2Peer Finance News that “it is not something we are commenting on”.
In October, Randell announced that he would be stepping down as chair of the FCA and Payment Systems Regulator (PSR) in Spring 2022.
At the time, investors in collapsed peer-to-peer lending platforms urged the City regulator to hire “a very different” kind of chair when replacing Randell.
Investors in defunct alternative finance platforms Lendy, Collateral, MoneyThing, London Capital & Finance and Blackmore Bonds all signed a letter to Chancellor Rishi Sunak last year calling for a change in leadership and to consider diversity when hiring a replacement chair.
The FCA has been in the midst of an executive reshuffle in recent months. Earlier this week, Penny James, chief executive of Direct Line Group, was named chair of its practitioner panel – the independent body that provides the regulator with industry input. She took over from Paul Feeney, chief executive of Quilter.
And last year, the FCA appointed non-executive chair of the London Stock Exchange Michael Findlay as chair of its independent markets practitioner panel, succeeding interim chair Tim Waddell, vice chairman, global corporate and investment banking for EMEA, BofA Securities.
Read more: What will be in the new FCA chair’s P2P inbox?