The Financial Conduct Authority (FCA) has appointed Sarah Pritchard as its first-ever Deputy Chief Executive, a newly created role that reflects the regulator’s expanding remit and evolving responsibilities.
The appointment comes as the FCA undertakes significant structural reforms and assumes oversight in emerging areas, including stablecoins, non-bank financial intermediation, cryptoasset firms, and buy now, pay later (BNPL) credit services. The creation of the deputy chief executive position also follows the integration of the Payment Systems Regulator into the FCA’s operations.
Pritchard, who joined the FCA in June 2021, currently leads the regulator’s work on consumer protection, competition policy, and international engagement. She will continue in these roles while stepping into her expanded position. Notably, she has recently represented the FCA in global discussions with the G20 and the Financial Stability Board, particularly on the issue of leverage in non-bank financial institutions.
Reflecting on her time at the FCA, Pritchard noted via LinkedIn: “Over the last four years, I’m proud to have helped establish a combined supervision, policy and competition division, as well as leading our capital markets reform, pensions work, and our landmark initiatives to help more consumers access the right financial guidance.”
Pritchard also serves as the executive sponsor for the FCA’s Edinburgh office, where staff numbers have nearly tripled since her appointment.
Her professional background includes leadership roles at the National Economic Crime Centre and the National Crime Agency, where she served as general counsel. In the private sector, she worked in global financial crime compliance at HSBC and began her legal career as a litigator at Dechert LLP.
Commenting on her new role, Pritchard said, “I am looking forward to working even more closely with Nikhil so there is no let-up in the pace of change, and to ensure we have the right relationships, domestically and internationally, to deliver our ambitious strategy.”
