The Payment Systems Regulator (PSR) Board today announced the appointment of Chris Hemsley as its Managing Director.
Chris Hemsley has been acting as Co-Managing Director of the PSR since April 2019. Chris has extensive experience working for UK regulators having joined the PSR in November 2018 following his role as Deputy Director of Railway Markets and Economics and Chief Economist at the Office of Rail and Road. Previously, Chris led the implementation of the UK government’s new support scheme for large-scale renewable electricity generation and, before that, led the Civil Aviation Authority’s work on competition and consumer protection.
Welcoming the appointment, Charles Randell, Chair of the PSR said: “The PSR has already become known as a dedicated economic regulator of payment systems, promoting an open and innovative architecture for their future. Chris’s appointment marks the next phase of the PSR’s development.
“Chris has a wealth of experience of the regulatory landscape, and since joining the PSR he’s gained a clear insight into the opportunities and challenges of this industry, which plays a critical role in the economic lives of the UK’s consumers and businesses."
Chris Hemsley, Managing Director of the PSR said: “I’m delighted to be appointed as the PSR’s new Managing Director at such an exciting time in payments. There are major changes underway in how we make payments, including how much we are using cash and the renewal of the systems behind most of our electronic payments.
“The PSR plays a vital role in making sure that these changes happen in a way that meets the needs of people and businesses, including by promoting competition and innovation.
“I look forward to working closely with consumer groups, industry and government to ensure that the UK has modern, resilient and innovative payment systems.”
The Economic Secretary to the Treasury, John Glen, said: “The Payment Systems Regulator is helping put customers first, ensuring greater competition and innovation in the systems we use to pay for goods and services.
“I want to congratulate Chris on his appointment. His vast experience in the world of regulation will hold him in good stead and I look forward to working closely with him to make sure payment systems continue to work for both businesses and individuals.”
Louise Buckley, who has also been acting as Co-Managing Director since April 2019, will resume her role as Chief Operating Officer for the PSR.