The economic regulator for UK payments systems, the Payment Systems Regulator (PSR), has announced the appointment of Paul Smith as its head of policy.
Smith had previously been worked as chief executive of the Australian Energy Market Commission (AEMC) and before that had worked at both Postcomm (now Ofcom) and Ofgem.
"The PSR has, in a very short time, established itself as an important and influential regulator that plays a vital role in the payments industry and across the wider financial sector," said Smith on his appointment.
"The challenges that the industry will encounter over the coming years will need a regulator that has a steady hand on the tiller and I relish the opportunity to join such an important organisation at such an interesting time," he added.
The managing director of the Payments Systems Regulator, Hannah Nixon, was also positive about the announcement, and said: "As our organisation continues to grow, so will the importance of having a strong team that can work with the industry to make sure payment systems work as well as they can. Paul brings with him a wealth of experience that will help to strengthen our senior leadership team and allow us to achieve these goals."
Smith will lead the development of regulatory policy there and will work closely with the payments industry in order to deliver the statutory objectives of the organisation.
These objectives are promoting effective competition, encouraging the development of innovation in the industry and ensuring the interests of the service-users are upheld.