HM Treasury today announced the appointment of Nikhil Rathi as the new permanent Chief Executive of the Financial Conduct Authority (FCA), succeeding Interim Chief Executive Christopher Woolard.
Rathi (pictured) – who will be paid Nikhil will be paid an annual salary of £455,000 plus a 12% pension but paid no bonus or paid any other benefits in his new role – is currently the Chief Executive of London Stock Exchange plc.
From September 2009 to April 2014, he was Director, Financial Services Group at HM Treasury. In this role, he led the Treasury’s work on the UK’s EU and international financial services interests.
It has also been agreed that Rathi will have no remaining interests in LSE Group shares, whether under Long Term Incentive Plans or otherwise, at the point he joins the FCA.
It has also been agreed that he will not be involved in supervisory or enforcement decisions relating to the LSE Group until 22 June 2021.
Rathi is expected to take up the role in the Autumn.