The chief of Hong Kong's financial watchdog has become frontrunner for the vacant FCA role.
in October 2021 that he intended to leave his role as chairman of the FCA, after assuming the position — in conjunction with the Payment System Regulator position — in 2018. Richard Loyd has been interim chair since Randell’s departure in the Spring.
The chair of the FCA plays a vital role in the economic regulation of Britain and the appointment of a new chair requires the approval of both the Chancellor and the Prime Minister. However, due to the latest developments in Westminister may block any confirmation in the near future. Since then Johnson has announced Sunak’s replacement, only for him to step down a day later, seen 60 members of parliament resign and announced his impending resignation.
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