The chairman of the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) has confirmed he will leave the organisations next March.
In 2013, following his six-year stint as chairman of KPMG Europe, John Griffith-Jones was appointed chairman of the FCA before being appointed chair of the PSR when it was established in 2014.
He said: “I committed to a five-year fixed term to chair the FCA and, in so doing, to help ensure that conduct regulation became a respected part of the UK financial landscape.
“It has been, and continues to be, a great privilege to be responsible for the work of both the FCA and the PSR. I like to believe that I will leave both in good shape to regulate well in the future.”
The Chancellor of the Exchequer, Philip Hammond MP, thanked Griffith-Jones for his work as chairman and said: “Both (roles) undertake a vital role in ensuring that the UK financial markets work well and that the interests of consumers and users of those markets are protected.
“John Griffith-Jones has provided strong leadership to both boards during his tenure, helping to establish them as key parts of the UK financial regulatory system.”
HM Treasury has said it will now commence the process for recruiting a new chair of the FCA.