Payments Systems Regulator (PSR), the governing body for UK’s payments systems industry, has named Charles Randell as the new chairman, replacing John Griffith-Jones who has been in the role since its formation in April 2014.
He will assume the new responsibility on 1 April 2018. The new role has a five year term.
“I am delighted that Charles Randell has been appointed as my successor and I wish him every success in the role,” Griffith-Jones stated.
Randell currently serves as an external member of the Bank of England’s Prudential Regulation Committee, as well as an executive board member of the department for business, energy and industrial strategy.
From 1980 to 2013, he worked at international law firm Slaughter & May, with focus in corporate finance law, eventually becoming the firm’s partner in 1989.
Randell also offered advice to Treasury on the resolutions of Northern Rock, Bradford & Bingley and the Icelandic banks and the government’s investments into RBS and the merged Lloyds/HBOS.
PSR managing director Hannah Nixon said: “The payments industry is undergoing significant change, driven by changing consumer needs, technology and our own interventions. Having someone with Charles’ financial and regulatory experience as our Chair will be invaluable in successfully achieving our goals.”