PSR Leadership Transition:
- Outgoing Managing Director:
- Chris Hemsley to step down on 7 June after five years as managing director.
- Hemsley will join Fingleton, a London-based strategic regulatory advisory firm, as a director later this year.
- Interim Managing Director:
- David Geale, former director of retail banking at the FCA, appointed as interim managing director.
- Geale has served as a non-executive director on the PSR board since February 2020.
- Recruitment for Permanent MD:
- The PSR will start the recruitment process for a permanent managing director after the UK general election on 4 July 2024.
- Geale’s interim role is expected to last nine months.
- Experience and Background:
- Geale brings 11 years of experience from the FCA.
- His familiarity with the PSR and experience in payments and retail banking make him well-suited for the interim role.
- Strategic Focus:
- The PSR aims to continue delivering key outcomes outlined in its annual plan and mid-year strategy review.
- Emphasis on horizon scanning during a period of significant change in domestic and international payments.
- Comments from PSR Chair:
- Aidene Walsh, chair of the PSR, expresses confidence in Geale’s leadership and experience to guide the regulator effectively during the transition period.
