Nikhil Rathi who hails from Rajasthan and Madhya Pradesh, was first appointed as FCA CEO in 2022.
London: Nikhil Rathi, the Indian-origin chief executive of the UK’s Financial Conduct Authority (FCA), has been re-appointed to his post for a second term by the Chancellor of the Exchequer Rachel Reeves.
Describing Rathi’s leadership of the financial watchdog as “crucial” to the government’s reform agenda, Reeves said she wanted him to go further in his efforts to boost economic growth and investment during his new five-year term.
The FCA, as a regulator for the UK’s financial markets and over 40,000 financial services firms, is in charge of holding them to account.
“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,” Reeves said in a statement from the UK’s Treasury department.
“The FCA does vital work to enable a fair and thriving financial services sector for the good of consumers and the economy,” said Rathi in response to his re-appointment. The 45-year-old financial expert, who has his parental roots in Rajasthan and Madhya Pradesh, was born and grew up in northern England. He was first appointed as FCA CEO by then prime minister Rishi Sunak in 2022 and moved over from his role as the chief of the London Stock Exchange at the time.
