The Financial Conduct Authority  is due to announce the appointment of Richard Lloyd, a non-executive director at the regulator, as interim chair, according to reports.

The former executive director of consumer group Which? will be named as interim chair this week, Sky News reported yesterday (31 January) evening.

Lloyd led Which? as executive director from 2011 to 2016 and joined the board of the FCA in April 2019 and is currently chair of the risk committee and the oversight committee.

Industry questions 'unusual' departure of Charles Randell from FCA

In October 2021, it was announced that FCA and Payment Systems Regulator chair Charles Randell (pictured) would step down in Spring 2022, before the end of his five-year term. Randell was appointed chair in April 2018.

Staff at the UK regulator were due to vote on strike action in January this year, in response to what has been called "severe cost cutting" by the union Unite.

The FCA declined to comment, as the process to appoint a new chair is overseen by HM Treasury.