The U.K. Treasury on Friday named Hong Kong Securities and Futures Commission (SFC) CEO Ashley Alder as chairman of the U.K. Financial Conduct Authority (FCA). He is expected to start in January next year.

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Fast facts

• Alder will succeed Richard Lloyd, who has served as interim chair since Charles Randell stepped down from his post in May 2022, the treasury said.

• Alder will step down from his role as the head of Hong Kong’s financial regulator at the end of September.

• The SFC said it would soon begin looking for a replacement for Alder without giving further details, according to Reuters.

• Under Adler’s watch, the SFC introduced a comprehensive framework to regulate virtual asset trading platforms.

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