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The UK Financial Conduct Authority on Friday said the chief executive of Hong Kong's equity market watchdog has been picked as its new chair.
Ashley Alder will take over as FCA chair in January and has been appointed for a five-year term.
Alder is currently CEO of Securities & Futures Commission in Hong Kong, a post he has held since 2011.
He also chairs the board of the International Organization of Securities Commissions, which regulates global securities and futures markets.
The UK financial services regulator has been on the hunt for a permanent chair since following the departure of Charles Randell, and is trying to fix its reputation following a series of blunders, such as its response to the £236 million collapse of London Capital & Finance.
Randell stood down at the end of May after four years in the role, ending his stint a year earlier than his term ran for. Richard Lloyd then took over as interim chair on June 1.
The UK treasury appoints those at the helm of the FCA.
It has also reappointed Alice Maynard and Liam Coleman as chairs of the audit and people committees, respectively.
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