The Payment Systems Regulator today confirms the appointment of Aidene Walsh as its new chair for a three-year term, effective immediately. Aidene has been interim chair of the PSR since April 2022. The PSR Chair is appointed by the Financial Conduct Authority (FCA) with approval from the Treasury.
This is the first time the PSR has had its own dedicated Chair, with previous incumbents being joint chair of the FCA and PSR.
As PSR Chair Aidene will also sit on the Board of the Financial Conduct Authority and will play a key role in ensuring the two regulators work together effectively and efficiently to deliver for users of payment systems.
Richard Lloyd, Interim Chair of the Financial Conduct Authority which appoints the PSR Chair, said:
“I warmly congratulate Aidene on her appointment. The Payment Systems Regulator fulfils a vital role in enabling sustainable innovation, protecting consumers, and promoting competition in payments, and the FCA looks forward to continuing to work closely with Aidene and her team.”
Aidene Walsh, the new Chair of the PSR, said:
“I am delighted to have been appointed Chair of the PSR at such an important time for UK payments and the wider economy.
“The next couple of years will see delivery of vital developments in payments as well as new innovations. The PSR will continue to work with payment operators and firms, consumer and business groups and other regulators to ensure that the UK’s payment systems are fit for the future and that the wider ecosystem delivers competition and innovation. It will also ensure that choice and protection is front and centre when people and businesses make payments and take appropriate action where this is not the case.”
Chris Hemsley, PSR Managing Director, commented:
“I’m delighted Aidene has been appointed as our new Chair.
“Over the last few years, we’ve established a track record of bringing about change, engaging well and offering value for money in our approach. This has helped us make a positive impact on how payments work.
“I look forward to working with Aidene and the PSR Board as we continue to tackle payment fraud, increase competition in retail payments, encourage new innovations and ensure the sector is doing all it can to support the people and businesses that use and rely on payments every day.”
Aidene Walsh joined the PSR Board on 1 June 2020 and served as its Interim Chair from 1 April 2022.
She is currently an Executive Director with Banking Competition Remedies Ltd (BCR), the Independent Body established to implement the Alternative Remedies Package of measures agreed between the UK Government and European Commission.
Prior to joining BCR, she was CEO of The Fairbanking Foundation, a charity supporting organisations to put customer financial well-being at the heart of their propositions. In her 26-year banking career, she held various leadership roles in international and domestic Commercial and Transaction Banking businesses. These included European Transaction Banking in Citigroup and ABN Amro, Global Network Banking in RBS and Merchant Acquiring and Commercial Cards in Lloyds Banking Group.
In her spare time, she serves as a Magistrate in South-West London.