Nikhil Rathi Re-Appointed as UK Financial Watchdog Chief for Second Term

Nikhil Rathi, the Indian-origin chief executive of the UK’s Financial Conduct Authority (FCA), has been re-appointed for a second five-year term, the UK government announced on Thursday.

Chancellor of the Exchequer Rachel Reeves praised Rathi’s leadership, calling it “crucial” to advancing the government’s financial reform agenda. She emphasized her confidence in Rathi’s ability to drive stronger economic growth and attract more investment into the UK during his renewed tenure.

“Under Nikhil’s stewardship, the FCA has shown resilience and adaptability. His re-appointment ensures continuity at a time when the financial sector plays a key role in our economic strategy,” Reeves said.

Rathi has been heading the FCA since October 2020, making history as the first person of Indian origin to lead the UK’s top financial regulator. The FCA oversees over 40,000 financial services firms and markets, holding them accountable to ensure transparency, stability, and consumer protection.

His second term comes at a critical juncture, as the UK navigates post-Brexit regulatory reforms, evolving financial technologies, and increasing pressure to uphold high standards in ESG (Environmental, Social, and Governance) compliance.

Rathi’s leadership has been noted for a forward-looking approach, including initiatives around crypto regulation, green finance, and strengthening consumer safeguards.