Ashley Alder - the CEO of Hong Kong’s Securities and Futures Commission (SFC) - is to become the new chair of the Financial Conduct Authority from January.

Former Which? executive Richard Lloyd has taken over as interim chair of the Financial Conduct Authority this morning.

Outgoing FCA chair Charles Randell - in one of his last major speeches before he stands down - has said that in hindsight “more could have been done” to protect people from the negative impacts of the Pension Freedoms which were introduced in 2015.

The search is on for the next chair of the FCA after the regulator confirmed that current chair Charles Randell will hand over to interim chair Richard Lloyd from 1 June.