Rathi reappointed FCA CEO

Since Rathi joined the regulator in October 2020, the FCA has introduced the Consumer Duty and has promised to help the government with its growth objective by streamlining its rulebook, lowering costs for firms and boosting international competitiveness.

In March 2025, the FCA published a new five-year strategy with four priorities: to be a smarter regulator, support economic growth, help consumers navigate their financial lives and fight financial crime.

Rathi said: “I am honoured to be reappointed by the chancellor. The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy.

“I am proud of the reforms we have delivered to support growth, bolster operational effectiveness, set higher standards and to keep our markets clean and open.

“While we must go further and faster in this age of volatility, the UK is well placed as a major international financial centre.”

Ashley Alder, the FCA’s chair, said Rathi is the right leader in testing times.

Alder said: “His exemplary first term as chief executive has ensured the FCA is an organisation transformed. We’ve set a new standard for consumer protection, made it easier for businesses to access capital and quicker for firms to get authorised.

“That provides the solid foundation to deliver our ambitious new strategy – to deepen trust, rebalance risk, support growth and improve lives.” 

His new term will run until September 2030.  

Rathi’s presentation last month of the FCA’s new five-year strategy prompted speculation that he was minded to stay at the City watchdog, after Sky News revealed last year that he had applied to replace Simon Case as cabinet secretary.

He spent nearly a decade in senior Treasury posts, including as head of its financial stability unit and as director of its financial services group.

In 2014, he joined the London Stock Exchange, becoming its chief executive in 2015.