Charles Randell has been appointed as the next chairman of the Financial Conduct Authority.
He is an external member of the Prudential Regulation Committee of the Bank of England and a non-executive board member of the Department for Business, Energy and Industrial Strategy.
Randell will start the role on 1 April 2018 for a five year term, replacing current chairman John Griffith-Jones.
Andrew Bailey, chief executive of the FCA, said: “I am very pleased to welcome Charles to the FCA.
“His experience of regulation, both during the financial crisis and more recently as a member of the Prudential Regulation Committee, mean that he has a strong understanding of the challenges that the FCA faces and I look forward to tackling these with him in his new role.”
Randell worked at Slaughter and May from 1980 to 2013, becoming a partner in 1989, specialising in corporate finance law.
He advised HM Treasury on the resolutions of Northern Rock, Bradford & Bingley and the Icelandic banks, the government’s investments into RBS and the merged Lloyds/HBOS and the Asset Protection Scheme.
He also advised the Portuguese Ministry of Finance on the recapitalisation of the Portuguese banking sector.