HM Treasury has appointed Ashley Alder as chair of the Financial Conduct Authority (FCA), effective January 2023.
Alder currently serves as chief executive officer of the Securities and Futures Commission (SFC) in Hong Kong and has held that position since 2011.
In addition, he chairs the board of the International Organisation of Securities Commissions (IOSCO) as well as holding a position on the Financial Stability Board’s plenary and its Steering Committee.
Alder started his career as a lawyer in 1984 and practised in Hong Kong for over 20 years.
He served as executive director of the SFC’s corporate finance division from 2001 to 2004 and later returned to private practice at law firm Herbert Smith as head of Asia.
Expected to begin serving as FCA chair in January next year, Alder has been appointed for a five-year term.
“We are looking forward to working with Ashley as he takes over the leadership of the FCA’s Board next year,” said Richard Lloyd, interim chair of the FCA.
“As the FCA continues to strengthen its vital work to protect consumers and our financial markets, his deep experience of leading a major international regulator will help us deliver our ambitious strategy for the future.’
Elsewhere, Dr Alice Maynard and Liam Coleman, who respectively chair the FCA’s Audit and People Committees, have been reappointed to the board for their second three-year terms.
Earlier this year, the FCA established a new advisory committee to support its wholesale secondary markets work in equities, derivatives, fixed income and commodity derivatives.
Among the 20 individuals who have been appointed as members of the committee are various heads of trading, including: Alex Skrine, director of electronic trading at Winterflood Securities; Daniel Mayston, managing director, EMEA head of electronic trading and market structure at BlackRock; Edwards Wicks, global head of trading at L&G Investment Management; and Robert Barners, group head of securities trading at LSEG and CEO of Turquoise Global Holdings.