UK Regulator TPR Names Nausicaa Delfas Chief Executive

U.K. workplace pension watchdog The Pensions Regulator has named the Financial Conduct Authority’s Nausicaa Delfas as its new chief executive, effective at the end of March 2023.

Nausicaa, who had recently begun working as the FCA’s executive director of governance in October, will succeed Charles Counsell, who began his term in April 2019 and announced in June that he would step down at the end of March 2023.

“Nausicaa has a proven track record of delivering transformational change, and her background in governance will be vital as we ensure those who deliver pension savings are meeting the challenges of new legislation and as we continue to improve our effectiveness by becoming a more data- and technology-led organization,” Sarah Smart, the chair of TPR, said in a statement.

Smart also thanked Counsell for his “outstanding work as CEO,” adding that he “worked tirelessly to help TPR become the clearer, quicker and tougher regulator it is today.”

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Prior to her current role, Delfas was interim CEO and chief ombudsman at the UK’s Financial Ombudsman Service. Before that, Delfas worked at the FCA for more than nine years in several roles, including executive director of international and interim chief operating officer. As executive director of international, Nausicaa was responsible for the FCA’s international strategy and delivery, including its post-Brexit plans.

Before her first stint at the FCA, Delfas was head of department at the Financial Services Authority for nearly 12 years, and prior to that, she was an attorney at the Freshfields Bruckhaus Deringer law firm for close to eight years.

“I am delighted to be joining TPR as CEO at a time of significant change and challenge,” Delfas said in a statement. “TPR plays a key role in protecting work-based pensions and the post-retirement income of over 30 million people. I look forward to leading this organization in its critical work.”