TPR appoints FCA’s Delfas as chief executive

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TPR appoints FCA’s Delfas as chief executive
Nausicaa Delfas TPR's incoming chief executive
ByAmy Austin

The Pensions Regulator has appointed Nausicaa Delfas as its new chief executive, taking over from Charles Counsell who is due to step down from the role in March 2023.

Delfas joins TPR from her current role as executive director, governance, at the Financial Conduct Authority. 

Up until October 2022 Delfas was the interim chief executive and chief ombudsman of the Financial Ombudsman Service. 

Prior to this, in her role as executive director of international at the FCA she was responsible for the regulator’s international and Brexit strategy and delivery. 

She has also served as the FCA’s chief operating officer, and previously held other senior roles at the FCA and FSA, including in supervision, enforcement, risk and policy, across retail and wholesale sectors. 

Nausicaa has a proven track record of delivering transformational changeSarah Smart, TPR

Before joining the FSA, she trained and qualified as a solicitor at City law firm Freshfields in London.

She will lead TPR as it continues to implement a raft of new high-profile initiatives designed to improve outcomes for savers, from pensions dashboards to the new DB funding code.

Delfas said: “Saving effectively for the future is essential for everyone. TPR plays a key role in protecting work-based pensions and the post-retirement income of over 30mn people.  I look forward to leading this organisation in its critical work."

Sarah Smart, chair of TPR, said: “Nausicaa has a proven track record of delivering transformational change, and her background in governance will be vital as we ensure those who deliver pension savings are meeting the challenges of new legislation, and as we continue to improve our effectiveness by becoming a more data and technology-led organisation.”

She added: “I would like to thank Charles for his outstanding work as CEO. He has worked tirelessly to help TPR become the clearer, quicker and tougher regulator it is today, embedding wide-ranging new legislative duties and showing that we will take action to tackle criminal behaviour.”

Minister for pensions Laura Trott said Delfas will “bring a real wealth of experience to the role” adding she has no doubt that she “will be an excellent choice to continue the pivotal role played by Charles Counsell and the whole TPR team in supporting and expanding pension saving across the country”.