The Payment Systems Regulator (PSR) has named its new managing director, Chris Hemsley.

Hemsley has been acting as co-managing director since April, having joined the PSR as head of policy in November 2018, from previous regulatory work as the deputy director of Railway Markets and Economics and chief economist at the Office of Rail and Road.

Prior to this, the newly appointed PSR managing director led the implementation of the government’s new support scheme for large-scale renewable electricity and, before that, led the Civil Aviation Authority’s work on competition and consumer protection.

The announcement comes after the PSR’s first managing director Hannah Nixon announced her departure from the organisation in February.

Commenting on the appointment, PSR chair Charles Randell said: “Chris has a wealth of experience of the regulatory landscape, and since joining the PSR he’s gained a clear insight into the opportunities and challenges of this industry, which plays a critical role in the economic lives of the UK’s consumers and businesses.”

The incoming managing director highlighted there are major changed underway in how consumers make payments, including how much we are using cash and the renewal of the systems behind most of our electronic payments.

Hemsley said: “I look forward to working closely with consumer groups, industry and government to ensure that the UK has modern, resilient and innovative payment systems.”

Louise Buckley, who has also been acting as co-managing director since April, will resume her role as chief operating officer for the PSR.

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