FCA appoints Randell as chairman

THE UK’S financial watchdog has named top regulator and former corporate lawyer Charles Randell as its new chairman.

The Treasury announced Mr Randell’s appointment to take over from John Griffithjones at the helm of the Financial Conduct Authority (FCA) yesterday.

Mr Randell is a former partner at “magic circle” law firm Slaughter & May and a current board member of fellow regulator the Prudential Regulation Authority (PRA), part of the Bank of England. At Slaughter & May, where he was a partner from 1989 to 2013, Mr Randell helped advise the Treasury on the fallout from the financial crisis, including on the collapse of Northern Rock and the bailouts of Royal Bank of Scotland and Lloyds Banking Group.