Chris is Head of the Asset Management & Funds Market Interventions Department at the FCA, having been in role since October 2022. The department is part of the FCA’s buy-side directorate, which sits within the Supervision, Policy & Competition Division at the FCA.
The department develops and applies supervision strategies that ensure the FCA plays a role in preventing and reducing harm to consumers and financial markets as well as promoting competition. It is responsible for the supervision of circa 2700 asset management firms, ranging from small, independent asset managers up to sophisticated financial services groups with a large impact on the retail, institutional and wholesale markets. It also has responsibility for the authorisation and supervision of circa 30k investment funds. Chris led the development and the delivery of the strategy for the asset management portfolio, including the publication of our strategy in February 2023. He is also responsible for the delivery of the strategy for the alternatives, custody and fund services portfolios.
Chris led the buy-side response to the gilt market volatility in September and October 2022, working closely with regulators and stakeholders in the UK and across Europe to ensure increased resilience in the Liability Driven Investment sector. He also directly inputs into the policy development of long-term resilience standards for LDI. Chris also sits on various on working groups within the FCA and currently co-chairs the Wholesale Data Working Group which aims to advance the understanding and use of wholesale for the benefit of supervisors and policy makers.
Before his current role, Chris led the supervision of bank owned asset managers and custody banks at the FCA and was accountable for leading a portfolio of custody and fund services business models and developing the first publicly articulated FCA regulatory strategy for custody & fund services sector. Prior to joining the FCA in 2018, he advised investment firms as a member of KPMG’s consulting practice, delivering significant Board and ExCo sponsored projects in consulting. He also worked with the FCA on numerous occasions as part of Skilled Person’s teams to review the business and conduct of wholesale firms. He has also gained direct experience within the industry having worked for leading global asset managers several times on secondment in various roles.