The FCA has confirmed that Richard Lloyd has become its new interim chair.

The regulator had previously announced the move in February earlier this year, with Lloyd taking over from Charles Randell, who stood down yesterday after four years as chair.  

Lloyd joined the FCA Board in April 2019 and has been senior independent director, chair of the board risk committee, as well as chair of the regulator’s oversight committee.

Alongside his role at the FCA, Lloyd also chairs the Independent Parliamentary Standards Authority and is a council member of the Advertising Standards Authority. He was also a founding trustee of the Money and Mental Health Policy Institute.

Previously, he led Which? as executive director from 2011 to 2016 and prior to this he was chief executive of the world federation of consumer organisations, Consumers International; head of policy at the housing charity, Shelter; and worked for two years in 10 Downing Street as a special adviser to the Prime Minister. He was awarded an OBE in 2019 for services to the economy and consumer rights.

Lloyd will act as chair until the Treasury appoints a permanent successor, with a recruitment process for that role now underway.

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