Former Treasury select committee chair Andrew Tyrie has been named as the new chairman of the Competition and Markets Authority.
The ex-MP is best known for asking tough questions of the financial services sector while at the head of the influential parliamentary group.
While the FCA also has a competition remit, the CMA is likely to take on increased importance after Brexit, since competition rules are currently led by the European Commission.
Tyrie stood down from the Treasury select committee in 2017, and will replace David Currie in the post subject to approval from parliament.
Business secretary Greg Clark says: “Andrew Tyrie is a proven consumer champion and competition advocate, with a strong record of independence as select committee chair, ideally suited to leading the CMA at this critical time. I have no doubt he will make good use of his extensive policy, economic and financial experience to entrench the CMA post-Brexit as one of the world’s leading regulatory and enforcement bodies.”