New appointment to Financial Conduct Authority board announced
The Economic Secretary to the Treasury Bim Afolami has appointed Bryan Zhang to the board of the Financial Conduct Authority (FCA).
Mr Zhang has extensive experience within financial services, particularly within Fintech, Digital Transformation, and Open Banking. He is a Co-Founder and the Executive Director of the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School; he will take up a role as Non-Executive Director on Monday 19 February 2024 serving an initial three-year term.
The Economic Secretary to the Treasury, Bim Afolami, said:
鈥淓nsuring that regulation keeps pace with technological developments is crucial to supporting innovation and competition in the financial services sector, whilst also ensuring that consumers are appropriately protected.
鈥淚 am therefore delighted with the appointment of Bryan Zhang to the Board of the聽FCA. Bryan has demonstrated expertise in technology-driven innovation in financial regulation, which will be of significant benefit to the FCA Board.鈥�
FCA Chair Ashley Alder said:
鈥淏ryan brings with him a wealth of experience working at the forefront of innovation. I know he will be an important asset to the board and his expertise will help the FCA keep pace with an ever-evolving landscape.鈥�
Further Information
- The Financial Conduct Authority is the conduct regulator for around 45,000 financial services firms and financial markets in the UK.
- Under the Financial Services and Markets Act 2000, HM Treasury is responsible for appointing the members of the聽FCA聽Board.
- The FCA Board is responsible for setting the organisation鈥檚 strategic direction, making key policy decisions, and holding the FCA executive to account.
- Appointments and reappointments to the聽FCA聽Board are regulated by the Office of the Commissioner for Public Appointments.
- All appointments are made on merit and political activity plays no part in the selection process. However, in accordance with the Governance Code on Appointments there is a requirement for appointees鈥� political activity (if any is declared) to be made public. Bryan Zhang has not engaged in any political activity in the past five years.