As a member of the FCA’s board, made up of both executive and non-executive members, Mr Woolard is expected to hold the UK regulator to account, keeping a close eye on its operations and external environment.
Mr. Woolard is a long-time public servant and currently holds the post of Director of Strategy and Competition at the FCA, joining the organisation in 2013 as Director of Policy, Risk and Research.
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Although he does not have a background in finance, Mr. Woolard has spent most of his career in regulation or policy development, including working at the BBC and as a senior civil servant at Ofcom and the Department of Trade and Industry.
Welcoming the appointment, FCA Chairman John Griffith-Jones said: “Christopher has been a vital member of the FCA’s Executive Committee since the inception of the organisation, in particular shaping the strategy launched in December last year and our approach to competition. He will bring invaluable experience and judgement to the Board from his time at the FCA, but also outside the financial sector.”
Mr. Woolard responded to his appointment: “I am joining the Board at an important juncture for the FCA. I look forward to helping the board ensure that the FCA is able to meet the many challenges ahead of it.”
The move marks the second directorship for Mr. Woolard, who also sits on the Board of the Payment Systems Regulator.