Commentary

If Nikhil Rathi wants to stay CEO, he needs to sort out the FCA’s ballooning headcount

The watchdog must not extend its new growth focus to its own spiralling staff numbers

Nikhil Rathi is making all the right noises about helping the City flourish, but can he keep a lid on the FCA’s own costs?
Nikhil Rathi is making all the right noises about helping the City flourish, but can he keep a lid on the FCA’s own costs? Photo: Hollie Adams/Getty Images

David Wighton is a columnist for Financial News

The Financial Conduct Authority has certainly got the government’s message on growth. In the regulator’s last strategy document in 2022 there were five references to growth and 20 to diversity. In its new five-year plan, there are 30 mentions of growth and none at all of diversity. Talk about moving with the times.  

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