Nikhil Rathi

Nikhil Rathi is a British financial regulator who has been Chief Executive of the United Kingdom's Financial Conduct Authority (FCA) since 2020. Born 5 August 1979, Rathi brings two decades of regulatory and financial services expertise to one of the world's most prominent financial regulators. He was educated at Chetwynde School and St Anne's College, Oxford, where he earned a first-class degree in Philosophy, Politics and Economics.

Rathi began his career at HM Treasury in October 2002, holding various policy roles before becoming Head of the Financial Stability Unit in May 2008. From 2005 to 2008, Rathi served as Private Secretary to UK Prime Ministers Tony Blair and Gordon Brown. As Director of the Financial Services Group from November 2009 to April 2014, he led the Treasury's work on the UK's EU and international financial services interests. In May 2014, Rathi joined the London Stock Exchange (LSE) as chief of staff and director of international development, and in 2015, was appointed CEO.

Since joining in October 2020, the FCA has undertaken reforms to strengthen the UK's position in wholesale markets, including the biggest changes to the listing regime in over 3 decades. The regulator has introduced the Consumer Duty so people get the right support and products and services that meet their needs and offer fair value. In March 2025, the FCA published a new five-year strategy with 4 priorities: to be a smarter regulator, support economic growth, help consumers navigate their financial lives and fight financial crime. Rathi also sits ex officio on the Financial Policy Committee and Prudential Regulation Committee of the Bank of England.

Career history

• Chief Executive, Financial Conduct Authority (October 2020–present)
• Chief Executive, London Stock Exchange plc (2015–2020)
• Chief of Staff and Director of International Development, London Stock Exchange (May 2014–2015)
• Director, Financial Services Group, HM Treasury (November 2009–April 2014)
• Head of Financial Stability Unit, HM Treasury (May 2008–November 2009)

What Nikhil Rathi could bring to the Financial Conduct Authority: Having led the London Stock Exchange during a period of global market volatility and navigated complex international financial services interests at HM Treasury, Rathi brings proven capital markets expertise, cross-border regulatory coordination experience, and demonstrated ability to balance market innovation with consumer protection—all critical as the FCA positions the UK as a globally competitive financial centre while managing systemic risks and safeguarding consumer interests.