Charles Randell has decided leave his position as Chairman of the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) in Spring next year.
Randell has asked chancellor Rishi Sunak to start looking for his successor.
Charles Randell said:
As the FCA prepares to implement its new wholesale, retail and data strategies under an established new executive, now is the right time for a new Chair to carry on the close and continuous oversight of our transformation.
During the pandemic, the FCA stood up for consumers and businesses, while the markets we oversee proved resilient, laying the foundations for record capital raising to support the recovery.