PSR appoints interim managing director from FCA

The Payment Systems Regulator (PSR) has appointed an interim managing director, following the news that Chris Hemsley will leave his role on 7 June.

The board has hired David Geale from the Financial Conduct Authority (FCA), where he was most recently director of retail banking with responsibility for supervision and policy.

He has also been a non-executive director on the board of the PSR since February 2020.

Geale will step into the role of interim managing director with effect from 10 June, for a period of nine months.

After the general election on 4 July, the PSR will begin the search to recruit a new permanent managing director.

Aidene Walsh, chair of the PSR, said: “I am delighted that David has agreed to assume the interim managing director role for the PSR at an important time of delivery.

“His time on the PSR board, along with his leadership and wealth of experience in both payments and retail banking in the FCA, leaves him very well placed to lead the PSR in its work across the payments ecosystem.”

Walsh added: “We will continue to deliver the important outcomes outlined in our annual plan, our mid-year strategy review and importantly on our horizon scanning at a time of great change in payments both domestically and internationally.”

Earlier this week, the PSR announced Hemsley is leaving to take up a new role as a director at strategic regulatory advisory firm Fingleton later this year.