About Nikhil Rathi

Nikhil Rathi is the chief executive of the UK's Financial Conduct Authority (FCA). Rathi is of Indian descent, and grew up in Barrow-in-Furness, Cumbria, the son of Madhu and Dr Rajendra Rathi, a local magistrate, having moved there aged three. He was educated at Chetwynde School, followed by St Anne's College, Oxford, where he earned a first-class degree in Philosophy, Politics and Economics. Nikhil Rathi was the Cumbria under-12 tennis champion. From 2005 to 2008, Rathi was Private Secretary to UK Prime Ministers Tony Blair and Gordon Brown. Nikhil Rathi worked for HM Treasury from 2009 to 2014, and was director of the financial services group, leading 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. Nikhil Rathi's key responsibilities include: reporting regularly to the Board with appropriate timely and quality information so the Board can discharge its responsibilities effectively informing and consulting the Chair on all matters of significance to the Board so that the Chair and the Board can properly discharge their responsibilities developing and delivering the strategic objectives agreed with the Board recommending to the Board significant operational changes and major capital expenditures where these are beyond the Chief Executive’s delegated authority assigning responsibilities clearly to senior management and overseeing the establishment of effective risk management and control systems recruiting, developing and retaining talented people to work at the FCA and, in particular, establishing a strong management team which is fairly and fully evaluated communicating throughout the FCA the strategic objectives and the values of the FCA agreed with the Board, and ensuring that these are achieved in practice  sharing with the Chair and with other members of the FCA senior management the responsibility for communicating the FCA’s messages externally representing the FCA on particular national and international financial institutions taking such steps as are necessary to ensure that the Payment Systems Regulator is, at all times, capable of exercising its statutory functions All FCA staff other than the Chair’s immediate staff, the Director of Internal Audit and the Company Secretary, ultimately report to the Chief Executive.