Martin Wheatley, the outgoing head of Hong Kong’s financial regulator, is to head the Consumer Protection and Markets Authority.
His appointment was confirmed during a session of the Treasury select committee today.
Wheatley will leave the Hong Kong Securities and Futures Commission in June and will join the FSA as managing director of its consumer and markets business unit in September, before becoming chief executive of the CPMA when it launches.
Wheatley has been HKSFC chief executive since 2006 and sat on the Listing Authority Advisory Committee, an independent body which reports directly to the Financial Services Authority from 2002 to 2004.
He has broad, multinational experience in regulation and had been mooted as a leading candidate for the role.
Wheatley announced his resignation from the Hong Kong regulator late last year and sparked speculation by leaving the post just three months before his contract ends.
Wheatley says: “I am looking forward to taking up my new role, in particular the opportunity to help shape the creation of a new regulatory authority is a challenge I relish. I want to ensure the CPMA will deliver a regulatory regime that ensures market confidence and delivers strong consumer protection.”