Griffith-Jones became chair of the FCA on 1 April 2013 and the regulator said he had committed to a five-year fixed term, which he intends to adhere to.
He also became chair of the Payment Systems Regulator when it was established in April 2014, and intends to step down from that role at the same time as he leaves the FCA.
Griffith-Jones has presided over the regulator’s board at a time when it has taken an increasingly interventionist approach to governing consumer protection.
Chancellor Philip Hammond said in a statement:
“John Griffith-Jones has provided strong leadership to both Boards during his tenure, helping to establish them as key parts of the UK financial regulatory system.”
Griffiths-Jones said:
“It has been, and continues to be, a great privilege to be responsible for the work of both the FCA and the PSR. I like to believe that I will leave both in good shape to regulate well in the future.”
A statement from the FCA this morning said HM Treasury would now commence the process for recruiting a new chair.
