David Geale To Lead FCA Digital Finance And PSR As Groups Combine

The Financial Conduct Authority (FCA) has given David Geale two major leadership roles. He will now guide digital finance and payments for the FCA, while also becoming the head of the Payment Systems Regulator (PSR). This comes as the government brings both groups together.

Under his new role, Geale takes charge of important areas like crypto businesses, payment services, and open banking. He will help carry out the UK’s National Payments Vision, which focuses on faster and safer digital money systems. The FCA said this work will help customers and increase fairness in the market.

David Geale Receives Top Leadership Roles In The FCA and The PRS

Earlier this year, the UK government shared plans to merge the PSR into the FCA. Geale has been asked to manage this change while continuing his other tasks of overseeing digital payment companies. The FCA said this change should lead to simpler and stronger regulation.

Before this appointment, Geale spent more than 20 years at the FCA and its earlier version, the Financial Services Authority (FSA). As the former head of retail banking, he focused on topics such as crypto rules, savings reform, and post-Brexit policy. The FCA said his wide experience helped prepare him for these new roles.

Since June last year, Geale had already been working as acting head of the PSR. The FCA said his official appointment shows PSR’s trust in his leadership. He will now lead both groups as they begin working together on future financial changes.

In addition to Geale’s appointment, two other leaders received permanent roles. Emad Aladhal now leads retail banking at the FCA, and Andrea Bowe becomes head of the specialist directorate. The FCA said both had done well in their temporary positions and will continue their work full-time.

The FCA Reviews Crypto Rules In The UK

Alongside these leadership changes, the FCA is reviewing how UK users buy cryptocurrencies. A new report shows that the agency is considering banning credit card use when buying crypto. According to the update, some stablecoins may be treated differently under the new rules.

The report explained that using borrowed money to buy crypto can be risky for many users. The FCA said this review aims to lower that risk and encourage safer ways for individuals to use digital assets. These changes will support both safety and innovation in finance.

As the FCA and PSR begin to combine, Geale will play a major role in leading this new chapter. The FCA said it believes he can guide both teams through the transition and into the future.

With Geale in charge, the UK’s push for safer, smarter digital payments is expected to grow. The FCA said this move supports its long-term plan to protect users while improving how money moves across the country.