The Payment Systems Regulator (PSR) confirms today that Chris Hemsley will be standing down as Managing Director of the PSR with effect from 7 June.

He will take up a new opportunity as a director with Fingleton, a strategic regulatory advisory firm later this year.

Aidene Walsh, Chair of the PSR said:

“I’d like to thank Chris for leading the PSR over the last five years. UK payments have seen significant changes during this period and throughout, Chris has led the PSR into driving effective change to make payments better for everyone. He has also transformed the organisation, increasing its impact, and leaves it in a strong position.”

The PSR is awaiting final approval for the appointment of an Interim Managing Director who is expected to lead the organisation for a period of 9-12 months. As soon as the approval for the interim arrangements has been received, the PSR will make a further announcement. 

After the general election, the PSR will begin the recruitment process for a new Managing Director.