The chief executive of insurance giant Zurich and a top boss of the London Stock Exchange have been appointed as chairmen of Financial Conduct Authority panels.
The regulator announced today (June 28) that Tulsi Naidu, chief executive of Zurich, has been appointed as the new chairman of the FCA’s practitioner panel.
Ms Naidu, who will take over as chairman on August 1 of this year, has been a member of the panel since 2017 and succeeds Anne Richards, chief executive of Fidelity International.
She is also on the board of the Association of British Insurers and has been the UK’s chief executive of Zurich for nearly three years.
Chief executive of the London Stock Exchange, Nikhil Rathi, will become chairman of the FCA’s markets practitioner panel from July 1.
Mr Rathi has been a member of the panel since 2015 and will take over from John Trundle, chief executive of Euroclear UK and Ireland.
He is also a member of the FCA practitioner panel and is also on the board of LCH ltd, Turquoise Global Holdings ltd. and Unavista Ltd.
Charles Randell, the FCA's chairman, said: “Both Ms Naidu and Mr Rathi have served on the panels for a number of years and are well placed to lead the panels in supporting the FCA to be a targeted and effective regulator.
“The work of the panels has never been more important, given the extent of the changes in our world, including Brexit. I look forward to the robust but constructive challenge they will provide, and to working with them both in their new roles.”
Mr Randell also thanked Mr Trundle and Ms Richards for their contribution to the panels’ work as both members and chairs.
The FCA practitioner panels are independent statutory bodies that represent the interests of the financial services industry within the UK’s regulatory framework.
Panel members are recruited to represent both their own sector and the industry as a whole, rather than individual firms.
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