The Economic Secretary to the Treasury Bim Afolami has appointed Bryan Zhang to the board of the Financial Conduct Authority (FCA).
Mr Zhang has extensive experience within financial services, particularly within Fintech, Digital Transformation, and Open Banking. He is a Co-Founder and the Executive Director of the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School; he will take up a role as Non-Executive Director on Monday 19 February 2024 serving an initial three-year term.
The Economic Secretary to the Treasury, Bim Afolami, said:
‘Ensuring that regulation keeps pace with technological developments is crucial to supporting innovation and competition in the financial services sector, whilst also ensuring that consumers are appropriately protected.
‘I am therefore delighted with the appointment of Bryan Zhang to the Board of the FCA. Bryan has demonstrated expertise in technology-driven innovation in financial regulation, which will be of significant benefit to the FCA Board.’
FCA Chair Ashley Alder said:
‘Bryan brings with him a wealth of experience working at the forefront of innovation. I know he will be an important asset to the board and his expertise will help the FCA keep pace with an ever-evolving landscape.’
Further Information
The Financial Conduct Authority is the conduct regulator for around 45,000 financial services firms and financial markets in the UK.
Under the Financial Services and Markets Act 2000, HM Treasury is responsible for appointing the members of the FCA Board.
The FCA Board is responsible for setting the organisation’s strategic direction, making key policy decisions, and holding the FCA executive to account.
Appointments and reappointments to the FCA Board are regulated by the Office of the Commissioner for Public Appointments.
All appointments are made on merit and political activity plays no part in the selection process. However, in accordance with the Governance Code on Appointments there is a requirement for appointees’ political activity (if any is declared) to be made public. Bryan Zhang has not engaged in any political activity in the past five years.