By PAUL O’DONOGHUE, Senior Correspondent
NIKHIL Rathi will remain chief executive of the UK’s Financial Conduct Authority (FCA) until 2030., the watchdog has announced.
He is the first FCA leader to receive a second five-year term from the Treasury.
UK Chancellor of the Exchequer Rachel Reeves announced the decision on Thursday. She said the reappointment would give Rathi more time to deliver regulatory reform.
According to the Treasury, Rathi will lead efforts to simplify regulation and make the UK a more attractive place to do business. At the same time, the FCA will aim to protect consumers and build trust in financial markets.
Rathi was due to complete his term in September 2025. Since becoming CEO in 2020, he has overseen several major changes. These include the a revmap of the FCA’s Consumer Duty, its Sustainability Disclosure Requirements, and its Overseas Funds Regime.
Nikhil Rathi statement
“I am honoured to have been reappointed,” Rathi said in a statement. “I am proud of the reforms we have delivered to support growth, strengthen operations, raise standards, and keep markets clean and open. We must go further and faster in this age of volatility. The UK is well placed as a major international financial centre.”
FCA Chair Ashley Alder welcomed the decision. He called Rathi “the right leader in testing times.” Alder said Rathi’s first term transformed the FCA. “We have raised consumer protection, improved capital access, and sped up firm authorisation,” he said. “This gives us a strong base to deliver our new strategy – to deepen trust, rebalance risk, support growth and improve lives.”
Reeves said Rathi had played a “crucial” role in reforming regulation to support growth and investment. “We want the FCA to go further and faster to deliver this government’s Plan for Change,” she said.
The FCA also commented on the announcement. It said that since Rathi took office, it had introduced major reforms in wholesale markets. This included the biggest overhaul of the UK’s listing rules in more than 30 years.
In March 2025, the FCA published a new five-year strategy. It focuses on four goals: becoming a smarter regulator, supporting economic growth, helping consumers manage their finances, and fighting financial crime.
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