New Chair of Payment Systems Regulator Panel confirmed

12/01/2021

The Payment Systems Regulator (PSR) has today announced the appointment of Dr Ruth Wandhöfer as Chair of the PSR Panel from 1 December 2020. She succeeds Stephen Locke, Independent Adviser. A short biography is provided below.

The Panel performs an important role in our accountability framework ensuring that the views and needs of businesses which provide payments and the people and businesses who use them are taken into account. I am sure that Ruth will continue the excellent work of her predecessor and I look forward to working with her in her new role. I would also like to thank Stephen for his contribution over several years to the work of the Panel as Chair.

Charles Randell, Chair of the PSR

The Panel plays a very important role in supporting sound regulation of payment systems. It draws its membership from a diverse group of providers and users of payments across the country and ensures that their views are at the forefront of change. I am looking forward to continuing to work with the PSR and key stakeholders to ensure these views are well represented through the Panel.

Ruth Wandhöfer

The PSR Panel is an independent statutory body that contributes towards the effective development of the PSR's strategy and policy and offers advice and early input on the PSR's work. The Panel is made up of members drawn from payments system operators, payments service providers, infrastructure and technology providers and service users including consumer, large and small business representatives. 

About the PSR Panel

The Payment Systems Regulator Panel is established by the Payment Systems Regulator under the Financial Services (Banking Reform) Act 2013. The Panel represents the interests of participants in regulated payment systems and those who use, or are likely to use, services provided by regulated payment systems. 

The appointment of the Chair of the Panel is made by the PSR Board and approved by HM Treasury.

Ruth Wandhöfer has wide ranging experience in payments, banking, market infrastructure and investment in the UK, Europe and internationally. She has gained experience as board member of new and established organisations (Digital Identity Net, LSEG, Permanent TSB) as well as chair of working groups and multi-stakeholder forums (European Payments Council, European Banking Federation etc). Ruth was previously a member of the Bank of England’s RTGS Renewal Stakeholder Advisory Group and of the Payment Strategy Forum (2015 – 2016). She is a Partner in a venture capital fund (Gauss) that invests in start-ups globally. 

Stephen Locke is an independent adviser who has held a range of non-executive posts. Stephen is currently chair of the Advertising Advisory Committee. He is a former Chair of London TravelWatch and Board member of Transport Focus, and has also served on the Boards of the Money Advice Service, the Phonepaid Services Authority and Consumer Focus (where he was Vice Chair) and on the Financial Services Consumer Panel. Stephen sat as an independent non-executive board member of the Payments Council between 2007 and 2014.