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Finance watchdog reveals new chair

5th Jan 18 2:25 pm

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The UK Treasury has today announced that Charles Randell, an ex-lawyer who advised the British government during the financial crisis, will be the new chairman of Financial Conduct Authority.

Randell, who takes over in April from John Griffith-Jones, already has experience as a regulator as an external member of the Bank of England’s Prudential Regulation Committee (PRC), which oversees its banking supervision arm.

He reportedly advised ministers on investments into Royal Bank of Scotland (RBS.L) and Lloyds’ (LLOY.L) takeover of HBOS. Randell also advised on Portugal’s recapitalization of its banking sector.

“Charles has a wealth of relevant experience, and I am sure that he will prove to be a strong leader at this very important time,” finance minister Philip Hammond said in a statement.

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