Richard Lloyd OBE

Mr Lloyd, who joined the FCA board in April 2019 and has been senior independent director, chair of the board risk committee and chair of the oversight committee, takes over from Charles Randell CBE, who stood down yesterday after four years in the role.

Alongside his role at the FCA, Mr Lloyd also chairs the Independent Parliamentary Standards Authority (IPSA) and is a council member of the Advertising Standards Authority (ASA). He was a founding trustee of the Money and Mental Health Policy Institute.

He led Which? as executive director from 2011 to 2016. Prior to this he was chief executive of the world federation of consumer organisations, Consumers International; head of policy at the housing charity, Shelter; and worked for two years in Downing Street as a special adviser to the prime minister. He was awarded an OBE in 2019 for services to the economy and consumer rights.

Mr Lloyd will act as Chair until HM Treasury appoints a permanent successor. A recruitment process is underway.