Former Civil Aviation Authority chief executive Richard Moriarty is to head the UK’s financial regulator.
He has been named as chief executive of the Financial Reporting Council (FRC).
He replaces Sir Jon Thompson, who has led the FRC since 2019 and is moving to become chair of high speed rail line HS2.
Moriarty has been recruited by the Department for Business and Trade to continue work to transform the FRC into a new regulator – the Audit, Reporting and Governance Authority.
The FCA regulates auditors, accountants and actuaries.
Moriarty recently stepped down from the board of the aviation regulatory after five years as chief executive and deputy chief executive for two years.
Business minister Kevin Hollinrake said: “Richard Moriarty is a fantastic appointment to this role. His extensive background in leadership and specialised experience in regulatory and market reform will ensure the FRC continues to ensure business integrity and transparency.”