The UK’s corporate regulator, the Financial Conduct Authority, has announced the replacement for outgoing chairman John Griffith-Jones.
Charles Randell, a bank bail-out lawyer who advised the UK government during the 2008 financial crisis, has been appointed to chair the Financial Conduct Authority (FCA) for a five-year term.
Current FCA chairman and former KPMG partner John Griffith-Jones confirmed he would not seek another term in June 2017 after he faced criticism for KPMG's auditing of collapsed lender HBOS (although he did not work on the account himself).
Mr Griffith-Jones said he was "delighted" to see Mr Randell appointed as his successor.
FCA chief executive Andrew Bailey said, "I am very pleased to welcome Charles to the FCA. His experience of regulation, both during the financial crisis and more recently as a member of the Prudential Regulation Committee, mean that he has a strong understanding of the challenges that the FCA faces and I look forward to tackling these with him in his new role."
Mr Randell will commence his new role on 1 April 2018.