5.Mr Randell has been an independent member of the Prudential Regulation Committee (PRC) of the Bank of England since 2013. Mr Randell has also served as a non-executive director and the Chair of the Audit and Risk Assurance Committee at the Department for Business, Energy and Industrial Strategy since 2016. On appointment, Mr Randell has stated he will step down from the PRC on 31 March 2018. Mr Randell also intends to step down from his position at the Department for Business, Energy and Industrial Strategy once the Department’s 2017–18 financial statements have been finalised.
6.From 2014 to 2016, Mr Randell was a non-executive director and Chair of the Audit and Risk Committee for the Department for Energy and Climate Change. From 2014 to 2017, Mr Randell also undertook some consulting work related to legal risk management outside the financial services sector.
7.From 1980 to 2013, Mr Randell worked at Slaughter and May, specialising in corporate finance, with a particular focus on work involving the public sector, principally in the financial services and energy sectors. Mr Randell became a partner at Slaughter and May in 1989.
8.Mr Randell obtained an MA in Jurisprudence from Trinity College, Oxford University in 1979. Mr Randell then went on to complete his Solicitors’ Final Examination at the College of Law in 1980.
9.In oral evidence, the Committee questioned Mr Randell about the work of the FCA and the PSR. Topics covered during the session included:
10.The Committee is satisfied that Mr Charles Randell has the professional competence and personal independence to be the Chair of the FCA and the PSR. We wish him every success in his roles.
21 February 2018