New appointments to Financial Conduct Authority Board 2026
The Economic Secretary to the Treasury has today confirmed that Lea Paterson CBE and Matthew Tobin have been appointed as Non–Executive Directors to the Board of the Financial Conduct Authority (FCA).
Lea Paterson CBE and Matthew Tobin will commence their terms on 1 October 2026. They will each serve an initial three-year term.
Lea Paterson CBE is an experienced non-executive director and executive leader with a background in regulation, central banking and financial journalism, including as Economics Editor at The Times between 2000 and 2004. She has held senior roles in the Bank of England, with strengths in public accountability, strategic communications, people and risk management. She brings regulatory leadership experience beyond financial services. Lea is currently a Civil Service Commissioner, a Board Member at the Independent Parliamentary Standards Authority (IPSA), an independent member of Warwick University’s Remuneration Committee and holds a number of voluntary and community roles. She was also appointed as Chair of the Senior Salaries Review Body in 2024. Lea was appointed Commander of the Order of the British Empire (CBE) in recognition of her services to the economy in the 2023 New Year’s Honours List.
Matthew Tobin is a senior financial services lawyer and former Partner at Slaughter and May with over 20 years’ experience advising HM Government, regulators and major financial institutions on systemic risk, statutory schemes and market-critical interventions across banking, capital markets and lending. He has advised HM Treasury on major interventions including the Asset Protection Scheme, the Credit Guarantee Scheme, the COVID Corporate Financing Facility and the nationalisation of Bradford & Bingley. He regularly advises FTSE100/FTSE250 boards and treasury functions on financing strategy, regulatory change, disclosure and operational resilience. He brings deep knowledge of the UK financial services regulatory framework.
Economic Secretary to the Treasury Rt Hon Lucy Rigby KC MP, said:
“I am very pleased to announce the appointments of Lea Paterson and Matthew Tobin to the Board of the Financial Conduct Authority. The government has been clear that it wants to deliver better regulation that supports businesses to grow and innovate, in a responsible way. The FCA is a key partner in delivering that, so I’m delighted that it will benefit from the expensive expertise that Lea and Matthew will bring to its Board.”
Chair of the FCA Board Ashley Alder, said:
“I am delighted to welcome Lea Paterson and Matthew Tobin to the FCA Board. As we enter the next phase of delivering our strategy, their experience, judgement and fresh perspectives will help guide our work at an important time for consumers, markets and the wider economy. I look forward to working with them as we continue to support growth and innovation while maintaining high standards of consumer protection and market integrity.”
About the appointment process
Lea Paterson CBE and Matthew Tobin have been appointed jointly by the Economic Secretary and the Department for Business, Innovation, Science and Trade following a fair and open recruitment process run by HM Treasury.
HM Treasury is committed to appointing a diverse range of people to public appointments, including at the Financial Conduct Authority. The Treasury continues to take active steps to attract the broadest range of suitable applicants for posts.
Appointments to the FCA Board are regulated by the Office of the Commissioner for Public Appointments. Lea Paterson and Matthew Tobin have confirmed they have not engaged in any political activity in the last five years.
About the Financial Conduct Authority
The Financial Conduct Authority (FCA) is the conduct regulator for the UK’s financial services firms and markets. It is responsible for the conduct of around 42,000 businesses and sets the specific prudential standards for roughly 17,000 firms.
It has an overarching strategic objective of ensuring the relevant markets function well. To support this, it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers. Its secondary objective is to facilitate the international competitiveness of the UK economy, and its growth in the medium to long-term.