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FCA chairman to step down

John Griffith Jones

HM Treasury is on the look-out for a new FCA chairman after it was announced that John Griffith-Jones (pictured above) would be standing down next year.

Mr Griffith-Jones has confirmed he will leave both the FCA and the Payments Systems Regulator (PSR) at the end of his term of office on 31st March 2018. 

“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,” said Mr Griffith-Jones.

“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.”

Mr Griffith-Jones was appointed as the first FCA chairman on 1st April 2013 and became chair of the PSR when it was established in April 2014.

Philip Hammond, chancellor of the exchequer, paid tribute to Mr Griffith-Jones’ time in charge and thanked him for his work as chair at both regulators. 

“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.”

HM Treasury will now commence the process of recruiting a new chairman for the FCA.

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