Minister Kevin Hollinrake, on behalf of the Division of Enterprise and Commerce, has at this time introduced the appointment of Richard Moriarty as CEO of the Monetary Reporting Council (FRC), succeeding Sir Jon Thompson who has stepped down at this time, after being appointed as Chair of HS2.
Richard will begin his function at the start of October, with Sarah Rapson taking the function of Appearing CEO and Accounting Officer throughout August and September.
Richard joins the FRC following a 20 12 months profession at numerous regulatory our bodies, most lately as CEO of the Civil Aviation Authority. He has in depth expertise of the regulatory panorama throughout a variety of regulated sectors in addition to of financial regulation and competitors.
Chair of the FRC, Sir Jan du Plessis, mentioned:
“I’m delighted about Richard’s appointment as CEO of the FRC at such an essential time for the organisation. The truth that our appointment course of attracted so many excessive calibre candidates is a tribute to the transformation of the FRC we’ve seen over latest years, and a recognition of our ongoing duty to ship higher regulation that helps development for company Britain.
“With such an skilled appointee as Richard on board, I do know that we’ve discovered a powerful chief for the FRC on the following stage of its journey, and I sit up for working with him to cement the FRC’s place as a extra assured, assertive regulator working to the advantage of all of its stakeholders.
“An enormous thanks to Sarah Rapson who, as Interim Deputy CEO since February, has offered invaluable help to the FRC throughout this era of management change. The FRC is lucky to have such a powerful govt staff.”
CEO designate, Richard Moriarty, mentioned:
“The FRC has a essential function to play in underpinning investor and public confidence in monetary reporting and company governance within the UK. It’s a privilege to be requested to steer the organisation at this essential time and oversee its profitable transformation into the brand new Audit, Reporting and Governance Authority.
“I’m very a lot trying ahead to main the FRC staff at such a key time for all the work in its very broad and essential remit. Having undergone such a powerful transformation lately there’s nonetheless a lot to be achieved within the years to return and I’m excited to get began.”