FCA: a tale of five CEOs

Nikhil Rathi takes the helm of the FinancialConduct Authority at a time of crisis – the global coronavirus pandemic – andwith the United Kingdom’s final transition from the European Union just months away. Neasa MacErlean reports on one of thecountry’s most challenging jobs.

Welcome to one of the mostpolitical jobs in the UK, Nikhil Rathi. One Chancellor of the Exchequercurtailed the careers of two of your four predecessors at the helm of the Financial Conduct Authority. A third survivedcalls for his resignation. Only one of the four — interim head ChristopherWoolard — made it through without such pressures. Taking on the role of CEO ofthe FCA could be seen as a modern-day version of marrying Henry VIII.