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Financial Conduct Authority chairman to leave at end of March 2018

18 Juin 2017

John Griffith-Jones, Chairman of United Kingdom financial regulator the Financial Conduct Authority (FCA) as well as of the spun-out payment systems regulator the Payment Systems Regulator (PSR), has announced that he will leave both organisations at the end of his term of office, on March 31, 2018. "John Griffith-Jones has provided strong leadership to both Boards during his tenure, helping to establish them as key parts of the United Kingdom financial regulatory system". Griffith-Jones was appointed as the first FCA Chair in 2013, He became Chair of the PSR when it was established in April 2014.

"John Griffith-Jones has provided strong leadership to both Boards during his tenure, helping to establish them as key parts of the United Kingdom financial regulatory system", finance minister Philip Hammond said in a statement.

The finance ministry will now begin recruiting Griffith-Jones' successor at the FCA, which oversees markets to protect the financial system.

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He has faced criticism because he was at the helm of KPMG when it audited failed mortgage lenders such as HBOS, which was swallowed by Lloyds amid the financial crisis. He studied Economics at Trinity Hall, Cambridge.

UK Chancellor of the Exchequer Philip Hammond said the outgoing chairman had provided "strong leadership" to the FCA and the PSR.

The chairman of the FCA has the responsibility of ensuring the regulator's strategy is clear and well understood both internally and outside the organisation. According to the FCA's website, the chairman providers "counsel and challenge" to the chief executive on how the regulator is run.

Financial Conduct Authority chairman to leave at end of March 2018