06:22, January 05 49 0

2018-01-05 06:22:09
Ex-Slaughters partner named new chair of the FCA

Former Slaughter and May partner Charles Randell has been named as the new chair of the Financial Conduct Authority (FCA).

His five-year term starts this April and he will replace outgoing John Griffith-Jones, a former KPMG chairman who has been in the role since 2013.

Randell retired from Slaughters in 2013 after 24 years as a partner. He had joined the firm in 1980.

During his career at Slaughters, Randell won mandates from the UK Government on some of the largest matters of the financial crisis.

Slaughters’ contract for HM Treasury began in 2007 when Randell won the mandate to act on the restructuring of Northern Rock in September.

The role was extended to cover work arising with other banks throughout the financial crisis, including Bradford & Bingley and some of the Icelandic banks.

A Slaughters team led by Randell also advised on the recapitalisation of RBS, Lloyds TSB and HBOS in 2008.

In 2009, it was reported that Slaughters had billed the Government more than £22m since the start of the credit crunch to March 2009. This figure is understood to have risen to over £30m a year later.

Randell was further involved in the UK Government’s asset protection scheme and the Portugese government’s recapitalisation of the country’s banking sector.

He picked up a CBE in the Queen’s Honours List for 2016, while his former colleague Nilufer von Bismark received an OBE this year.

Since leaving Slaughters, Randell has been a member of the Prudential Regulation Committee of the Bank of England.