UK’s FCA hires Colin Payne as new head of innovation
The UK’s Financial Conduct Authority (FCA) has bolstered its leadership team by appointing Colin Payne as its new head of innovation.
The FCA appoints new head of innovation
Confirming his appointment on LinkedIn, Payne says the regulator is “embracing bold thinking and a dynamic urgency to deliver on our mission”, with a “renewed focus on fostering growth and driving global competitiveness”.
“Together, we’ll push boundaries, unlock potential, and shape the future of financial services in the UK and beyond,” he writes.
Key responsibilities for the role, as outlined in a job description posted by the FCA in July, include setting “the strategic direction for the Innovation Department” and developing strategies to “promote a pro-innovation mindset within the FCA”.
The position was previously held by Ravi Bhalla prior to his departure in June for HSBC, where he now works as strategic transformation director.
Payne joins the FCA directly from PwC, where he served as senior director, central banking and fintech product lead since July last year.
In this role, Payne writes on LinkedIn that he delivered “strategic innovation programmes for key clients across the GCC”, including National Payments Strategy, central bank digital currency (CBDC), digital asset and regulatory sandbox initiatives.
The FCA previously joined hands with the Bank of England in April to consult on the operation of a Digital Securities sandbox, while more recent innovations led to the debut of an AI Lab in October to facilitate the “safe and responsible use of AI in UK financial markets, driving growth, competitiveness and innovation in the sector”.
