PSR governance

PSR governance

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

The PSR was officially created under the Financial Services (Banking Reform) Act 2013. As an independent economic regulator, we have our own statutory objectives and management structure and board and we are directly accountable to parliament. 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. The PSR is a fully independent subsidiary of the FCA, but shares some operational services. 

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 Conflict of Interests policy for Non-Executive Directors

Executive Director Expenses

The board


Aidene Walsh

Interim Chair of the PSR Board


Charles Randell

Outgoing Chair of the Payment Systems Regulator


Chris Hemsley

Managing Director of the Payment Systems Regulator


David Geale

Director of Retail Banking and Payments Supervision, Financial Conduct Authority


Tommaso Valletti

Professor of Economics, Imperial College Business School & sits on the PSR Board

Faith Reynolds

Faith Reynolds

Non-executive director of the PSR Board