The Chancellor of the Exchequer Rachel Reeves has today confirmed that Julia Black, Anita Kimber, John Ball and Stéphane Malrait have been appointed as Non–Executive Directors to the Board of the Financial Conduct Authority (FCA). The Chancellor also confirms a one-year extension of Richard Lloyd’s second term as a Non-Executive Director on the FCA Board.
Julia Black and Anita Kimber will commence their terms on 12 May 2025, John Ball on 27 May 2025, whilst Stéphane Malrait will join later in the year on 20 October 2025. They will each serve an initial three-year term. Richard Lloyd’s second term has been extended and will now conclude on 31 March 2026.
Julia Black is a former External Member of the Prudential Regulation Committee. Julia is a highly accomplished academic in the field of law and financial regulation and has advised policy makers, consumer bodies, and regulators on issues of regulatory strategy and design in the UK and internationally.
Anita Kimber is a former Partner at EY who has also led large practices at PwC and IBM. Anita is experienced in leading transformation programmes across technology, data and analytics combined with customer insight and user experience focused teams. Anita’s experience is closely aligned with regulatory compliance for banks and other financial services institutions, including a secondment and a permanent appointment at Nationwide Building Society.
John Ball is a former Global MD, Pensions Practice for Willis Towers Watson where he enjoyed a near 40 year career. He has extensive change management experience and broader board experience across several WTW subsidiary boards and committees. The FCA Board will benefit from John’s deep pensions expertise.
Stéphane Malrait is a former Managing Director and Global Head of market structure and innovation for Financial Markets at ING Bank. Stéphane has operated in large, complex organisations internationally, including in the US, France, and the UK. He will bring experience of governance across different entities including non-executive board experience with industry associations and fintech companies.
Richard Lloyd is a distinguished member of the Financial Conduct Authority (FCA) Board, bringing a wealth of experience from his extensive career in consumer rights and public policy. He previously held significant roles, including serving as the Executive Director of Which?, where he championed consumer interests and advocated for fairer markets. Notably, Richard served effectively as the interim Chair of the FCA Board from June 2022 until February 2023, demonstrating strong leadership and a steadfast commitment to the organisation’s objectives.
Chancellor of the Exchequer, Rachel Reeves, said:
The FCA have been crucial in supporting the government’s efforts to reform regulation in order to better support growth and I am pleased to announce the appointments of Julia Black, Anita Kimber, John Ball and Stéphane Malrait to the FCA Board and the extension of Richard Lloyd for an additional year.
All five individuals bring extensive financial services experience to the Board and will help the FCA go further and faster to deliver on this government’s Plan for Change.
Chair of the FCA Board Ashely Alder, said:
I’m delighted to welcome Julia, Anita, John and Stéphane to the FCA board. Together, they bring a wealth of experience and insight across the financial services sector. I look forward to working with them as we deliver our ambitious new 5-year strategy.
I’d also like to congratulate Richard Lloyd on the extension of his second term, which ensures we continue to benefit from his invaluable counsel in the months ahead.
About the Financial Conduct Authority
The Financial Conduct Authority (FCA) is the conduct regulator for the UK’s financial services firms and markets. It is responsible for the conduct of around 42,000 businesses and sets the specific prudential standards for roughly 17,000 firms.
It has an overarching strategic objective of ensuring the relevant markets function well. To support this, it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers. Its secondary objective is to facilitate the international competitiveness of the UK economy, and its growth in the medium to long-term.
About the appointment process
Julia Black, Anita Kimber, John Ball and Stéphane Malrait have been appointed by the Chancellor following a fair and open recruitment process run by HM Treasury. All appointments are subject to vetting and security clearances currently in progress.
The Treasury is committed to appointing a diverse range of people to public appointments, including at the Financial Conduct Authority. The Treasury continues to take active steps to attract the broadest range of suitable applicants for posts.
Appointments to the FCA Board are regulated by the Office of the Commissioner for Public Appointments. Julia Black, Anita Kimber, John Ball and Stéphane Malrait have not engaged in any political activity in the last five years.
