Indian-origin CEO Nikhil Rathi re-appointed to lead UK’s financial watchdog | World News

Nikhil Rathi, the British-Indian chief of the UK’s Financial Conduct Authority (FCA), has been re-appointed for a second five-year term, the UK Treasury confirmed on Thursday.
The decision was made the Chancellor of the Exchequer, Rachel Reeves, who praised Rathi’s leadership as vital to the government’s economic reform goals.
“Nikhil Rathi has been crucial in this government’s efforts to reform regulation so it supports growth and boosts investment – I am delighted he will be continuing his leadership of the FCA,” PTI quoted Reeves as saying.
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The FCA is the main regulator for the UK’s financial markets and supervises over 40,000 financial services firms. The Treasury said Rathi’s re-appointment comes at a time when the FCA is working to make the UK the best place to do business, removing outdated or unnecessary rules and ensuring strong consumer protection.

“We want the FCA to go further and faster to deliver this government’s Plan for Change,” Reeves added.
In response, Rathi said he was proud of the progress made so far, particularly in supporting economic growth and raising industry standards.
“The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy,” PTI quoted Rathi as saying. “While we must go further and faster in this age of volatility, the UK is well placed as a major international financial centre.”Story continues below this ad
The 45-year-old, whose family has roots in Rajasthan and Madhya Pradesh, was born and raised in northern England. He was first appointed CEO of the FCA in 2022, moving from his role as head of the London Stock Exchange.
The Treasury also noted that Prime Miner Keir Starmer and Chancellor Reeves had tasked the FCA with finding ways to grow the UK economy late last year. Since then, the regulator has introduced policy changes such as easing mortgage rules and offering more support to financial firms.
FCA Chair Ashley Alder welcomed Rathi’s second term, saying, “His exemplary first term has transformed the FCA. We’ve strengthened consumer protection, made it easier for firms to access capital, and sped up authorisations. That’s a strong base for our ambitious new strategy.”
The government also highlighted plans to merge the Payment System Regulator into the FCA to improve regulatory coordination.
(with inputs from PTI)
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