The Payment Systems Regulator (PSR), the economic regulator for UK payment systems, has today announced the appointment of Paul Smith as its Head of Policy.
Paul has a wealth of experience working for UK regulators, having previously held roles at Postcomm (now Ofcom) and Ofgem. He joins the PSR from the Australian Energy Market Commission (AEMC) where he served as Chief Executive.
Paul will step into his new role on 01 February 2016. A full biography for Paul can be found in the notes to editors section, below.
As Head of Policy, Paul will be responsible for leading the development of regulatory policy and working with the industry to deliver the statutory objectives of the organisation. This includes ensuring that payments systems are operated and developed in the best interests of businesses and consumers, promoting competition within the industry and supporting innovation in payments systems.
Speaking about the appointment, Paul Smith said:
“The PSR has, in a very short time, established itself as an important and influential regulator that plays a vital role in the payments industry and across the wider financial sector. The challenges that the industry will encounter over the coming years will need a regulator that has a steady hand on the tiller and I relish the opportunity to join such an important organisation at such an interesting time.”
Hannah Nixon, Managing Director, Payment Systems Regulator, said:
“As our organisation continues to grow, so will the importance of having a strong team that can work with the industry to make sure payment systems work as well as they can. Paul brings with him a wealth of experience that will help to strengthen our senior leadership team and allow us to achieve these goals.”