The Financial Conduct Authority (FCA) has appointed David Geale as permanent Managing Director of the UK Payment Systems Regulator (PSR) and as the FCA’s Executive Director for Payments and Digital Finance, confirming his leadership role as the PSR moves towards consolidation into the FCA. Geale will help deliver the National Payments Vision and lead the FCA’s work on open banking and digital finance, while also playing a key role in the planned consolidation of the PSR into the FCA announced by the Government in March. The remit also includes supervision of payments and cryptoasset firms under the recently announced regime, alongside continuing PSR priorities such as authorised push payment (APP) fraud and card processing fees. Geale had been acting as PSR Managing Director since June 2024 and previously served as the FCA’s Director of Retail Banking.
Payment Systems Regulator 2025-05-08
Financial Conduct Authority appoints David Geale as permanent Managing Director of the UK Payment Systems Regulator and Executive Director for Payments and Digital Finance
The Financial Conduct Authority (FCA) has appointed David Geale as permanent Managing Director of the UK Payment Systems Regulator (PSR) and Executive Director for Payments and Digital Finance. Geale will oversee the National Payments Vision, open banking, and digital finance, and play a key role in the PSR's consolidation into the FCA. His remit includes supervising payments and cryptoasset firms and addressing push payment fraud and card processing fees.