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PSR governance

The PSR has its own board and management team and is run by Hannah Nixon

Hannah Nixon, PSR managing director

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: 25 The North Colonnade, Canary Wharf, London E14 5HS, 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

John is chair of the PSR and also of the Financial Conduct Authority (FCA).

He became FCA chair at launch in April 2013 having been a non-executive director and deputy chair of its predecessor, the Financial Services Authority (FSA).

John worked at KPMG from 1975 to 2012 where he spent 11 years in audit and 15 years in corporate finance before becoming UK CEO and subsequently chair and senior partner in 2006. In 2007 he became joint chair of KPMG Europe.

He is a council member of Heart of the City and sits on the advisory Board of the Cambridge Judge Business School. 

John is currently vice-chair of the National Numeracy Trust. He was the chair of the Every Child a Chance Trust, a charity concerned with numeracy in primary schools.

He studied economics at Trinity Hall, Cambridge.

PSR managing director Hannah Nixon joined from Ofgem, the UK gas and electricity industry regulator, where she led on the development and implementation of a new regulatory framework.

Prior to that she was head of regulatory economics at the Office of Rail Regulation, was a founding member of Cambridge Economic Policy Associates and vice-president of Deutsche Bank's global markets economics team.

Hannah is a non-executive director of the Channel Islands Competition and Regulatory Authority.

Carole is the PSR’s Head of Legal, and joined in April 2015. Previously she was Senior Legal Director, Mergers, Markets and Regulatory Appeals at the Competition and Markets Authority (CMA) where she reported to the General Counsel and to the CMA Board on legal issues arising in mergers, markets and regulation. She has extensive knowledge and expertise in competition, regulatory law, public law in advisory, policy development and litigation contexts.

Between March 2000 and March 2014 Carole was Deputy Chief Legal Adviser and Head of International at the Competition Commission (CC). She led the successful defence of CC decisions, including appeals by BAA, Ryanair and BSkyB to Court of Appeal. Earlier experience includes secondment to the Department for Transport in 2009 as Head of Railway Infrastructure and Safety Legal Division; and legal and policy roles at OFWAT and ORR

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.

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.


Bradley Fried is a non-executive board member of the PSR and the FCA.

He is a partner of Grovepoint Capital LLP. Bradley is Deputy Chairman of the Court of Directors of the Bank of England, and Chairman of its Audit & Risk Committee. He is a fellow at Magdalene College, Cambridge.

Bradley has extensive experience of financial services, having been Chief Executive Officer of Investec Bank plc and a partner at McKinsey & Co, where he focused on strategy consulting to the financial services industry. He is also a qualified chartered accountant.

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, a member of the Government’s advisory committee on the regulation of innovation in new medicines and biotechnologies, a non-executive director of Allen International and a member of the Development Board at Age UK, amongst other roles.

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 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, as well as a number of other non-executive roles within both private and government organisations.