The FCA has appointed three new members to its board including deputy CEO Sarah Pritchard.
The regulator says the move will bring additional experience in public policy, financial services, regulation and corporate leadership.
The new members are:
• Sarah Pritchard, deputy CEO, joining as an executive member
• Lea Paterson, a board member of the Independent Parliamentary Standards Authority and a Treasury appointee
• Matthew Tobin, a senior finance lawyer and former partner at Slaughter and May and a Treasury appointee
Ashley Alder, chair of the FCA, said: "I am delighted to welcome Lea and Matthew to the FCA board. Their experience and fresh perspectives will be invaluable as we continue to deliver our strategy for consumers, markets and the wider economy.
"I am also delighted that Sarah Pritchard has joined the Board. Sarah has made a significant contribution to the FCA’s leadership, and her deep understanding of our work will be a great asset as we continue to support growth and innovation while protecting consumers and market integrity.'
The three will take up their board roles today (1 October).
Deputy chief executive Sarah Pritchard has has held several senior leadership roles at the FCA and, in her role as deputy chief executive, plays a major role in delivering the watchdog's 5-year strategy, the FCA says.
Lea Paterson and Matthew Tobin have been appointed by the Treasury as non-executive directors, while deputy chief executive Sarah Pritchard has joined the board as an executive member.
Ms Paterson has had a career in economics, financial journalism, public policy and regulation. She is currently chair of the Senior Salaries Review Body, a Civil Service Commissioner and a board member of the Independent Parliamentary Standards Authority (IPSA).
She previously held several senior roles at the Bank of England, including executive director for People and Culture and the Bank’s first director of Independent Evaluation. Earlier in her career, she was economics editor at The Times and also worked at The Independent. She was awarded a CBE for services to the economy in 2023.
Matthew Tobin is a senior finance lawyer and former partner at Slaughter and May, with more than 20 years’ experience advising the Government, regulators and major financial institutions.
His work has covered systemic risk, statutory schemes and significant interventions across banking, capital markets and lending. He advised the Treasury on interventions including the Asset Protection Scheme, Credit Guarantee Scheme, COVID Corporate Financing Facility and the nationalisation of Bradford & Bingley.
He has also advised FTSE 100 and FTSE 250 boards and treasury functions on financing strategy, regulatory change, disclosure and operational resilience. He holds a BA in modern history from the University of Oxford.