The UK’s Financial Conduct Authority has appointed Sarah Pritchard as its new deputy chief executive, a move that reflects the regulator’s expanding responsibilities across digital finance and international policy.

The announcement marks the formal establishment of the deputy CEO role as the FCA assumes a broader mandate, encompassing oversight of stablecoins, crypto firms, and Buy Now Pay Later products.

Pritchard, who joined the FCA in 2021, will retain her existing duties, including leadership on consumer protection and competition, while stepping up to support Chief Executive Nikhil Rathi in managing the FCA’s day-to-day operations, according to a release on the matter.

Earlier this month, the FCA proposed lifting its ban on crypto exchange-traded notes for retail investors, provided FCA-approved exchanges issue them. The agency emphasized that investor protections will remain in place, including financial promotion rules, while the ban on crypto derivatives stays unchanged.

FCA remit changes 

The FCA’s remit now includes the integration of the Payment Systems Regulator, as well as shaping the UK’s future-facing regulatory approach for digital assets. 

As international financial standards evolve, Pritchard’s role also entails reinforcing the FCA’s global influence, especially through platforms such as the G20 and Financial Stability Board, where she has recently led work on leverage in non-bank financial institutions.

Commenting on the appointment, FCA Chair Ashley Alder noted the “evolving expectations” placed on the authority and emphasized Pritchard’s ability to implement reform quickly and effectively. Chief Executive Rathi echoed the sentiment, citing Pritchard’s track record in merging supervisory and policy divisions and driving key initiatives like the reform of UK listing rules.

While Pritchard’s new role signals continuity in leadership, it also reflects a strategic pivot by the FCA to address systemic shifts in how finance and crypto are delivered and regulated. 

Her experience—spanning both public enforcement and private sector compliance—positions her to navigate the challenges of regulating fast-moving sectors like crypto and fintech.

Pritchard, who previously led the National Economic Crime Centre and held compliance roles at HSBC, said she was committed to “no let up in the pace of change” as the FCA pursues an ambitious strategy aimed at rebalancing risk and supporting UK competitiveness.