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PSR governance

The PSR has its own board and management team, led by Chris Hemsley

Payment Systems Regulator

We are a subsidiary of the FCA but, as an independent economic regulator, have our own statutory objectives and management structure. We became fully operational on 1 April 2015.

The Payment Systems Regulator Limited (PSR) is registered as a limited company in England and Wales No. 8970864. Registered office: 12 Endeavour Square, London, E20 1JN, United Kingdom.

We have adopted and applied the core principles of the Senior Managers Regime. Read more on this.

The PSR board

The PSR board sets our strategic aims and ensures we meet our statutory objectives. The board is appointed by the FCA with the approval of HM Treasury.

Read our board minutes

Read our board effectiveness review

Read our Conflicts of Interests policy for Non-Executive Directors

Charles Randell CBE became Chair of the Payment Systems Regulator in April 2018. He is also Chair of the Financial Conduct Authority.

Charles was an external member of the Prudential Regulation Committee from 1 April 2013 until 31 March 2018.
He is a Non-Executive Director and Chair of the Audit and Risk Committee, at the Department for Business, Energy and Industrial Strategy. He is also a visiting fellow in financial services regulation at Queen Mary University of London.

Charles was a partner at law firm Slaughter and May from 1989 to 2013. He specialised in corporate finance law, and worked on financial stability and bank restructuring assignments, in particular during the global financial crisis.

Managing Director, Chris Hemsley, joined the PSR in November 2018 as Head of Policy and Strategy. In April, he became co-Managing Director, before being appointed as Managing Director in September 2019.

Chris has extensive experience working for UK regulators. He 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.  

Andrew is the Chief Executive of the FCA, and has been a non-executive on the FCA Board for a number of years. Andrew was previously Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority (PRA) and brings with him a wealth of experience in financial regulation.

Noel is a non-executive director of the PSR. He brings a wealth of experience in both financial services and technology.

In 2012 he retired from Accenture where he spent 16 years, latterly Global Managing Director of Accenture’s Global Banking Industry Practice, advising banks on risk, regulation, governance, IT and operations as well as the adoption of new technologies and payments architectures.

Prior to Accenture, Noel was a Partner at Booz Allen & Hamilton. Noel is now engaged in a portfolio of advisory and Board roles in addition to the PSR.

He is a non-executive director of NHS-England, Chairman of NHS Digital, Chairman of Healthcare UK and Chair of

Christopher Woolard is a non-executive member of the PSR board and an FCA executive committee member and chair of its policy steering committee. He is responsible for conduct policy, strategy, risk, competition, consumer issues, the Chief Economist's department, data and market intelligence.

Prior to this Christopher was group director and content board member at Ofcom and a non-executive member of the UK Council for Child Internet Safety. He has spent most of his career in regulation or policy development including working at the BBC and as a senior civil servant at the former Department of Trade and Industry.

He is a Sloan Fellow of London Business School.

Simon Ricketts has been a non-executive director of the PSR Board since 1 July 2017.

He is also a non-executive director of the HMRC Board, a technology advisor to the Home Office, Chairman of the Independent Assurance Panel for the Emergency Services Communications Programme, a member of the Tricentis Advisory Board and an Honorary Professor at Warwick Business School.

He held executive leadership positions as Chief Information Officer for Rolls Royce PLC, Scottish & Newcastle PLC and Cadbury Schweppes PLC, and a number of non-executive roles within both private and government organisations.

Amelia Fletcher joined the PSR Board in 2014 and has been a member of the FCA Board since April 2013.

Amelia is Professor of Competition Policy at the University of East Anglia, a Non-Executive Director of the Competition and Markets Authority, and a member of the Enforcement Decision Panels at Ofgem and the Civil Aviation Authority. She was previously Chief Economist at the Office of Fair Trading (2001-2013), and a member of the OFT’s Executive Committee.

Amelia has written and presented widely on competition and consumer policy, and has a particular interest in behavioural economics. Before joining the OFT, she was an economic consultant at Frontier Economics (1999-2001) and London Economics (1993-1999). She has a DPhil and MPhil in economics from Nuffield College, Oxford. She is on the Council of the Royal Economic Society. She was awarded an OBE in the 2014 New Years Honours.