Andrea Coscelli has been confirmed as the new chief executive officer of the Competition and Markets Authority (CMA).
Coscelli has held the position of acting CEO since July 2016, taking on the role from Alex Chisholm, who departed the CMA to join the department of energy and climate change.
He has been an executive director at the CMA since 2013, and before that was director of economic analysis at Ofcom.
The secretary of state for business, energy and industrial strategy, Greg Clark, announced that Coscelli would be staying on in the top spot.
Clark said: "Dr Coscelli is a recognised expert in competition and regulation, and commands respect in the business, and regulatory and academic community. I have no doubt he will make good use of his experience to further the CMA’s position as a world-respected regulatory and enforcement body.
"I want to congratulate Dr Coscelli on his success in the role of acting CEO, and I look forward to working closely with him in the coming years."
Coscelli said: "I am honoured to have been chosen to lead the organisation through the next phase of its development. The CMA has a central role to play in helping ensure people get a good deal from businesses.
"The role of markets is under public scrutiny and we will be actively engaging in that debate. As a core part of our role we will aim to connect right across the UK’s nations and regions to fully understand the challenges different groups of consumers and businesses face, and how we can help them."
We must also help ensure the continuing waves of exciting innovation in products and services fully benefit consumers and growth in the economy. As part of this, we need to ensure we intervene in markets in a timely and effective way, and only when necessary.
He added: "The coming years bring significant opportunities and challenges, in particular shaping and resourcing our regime for when the UK exits the EU. We enter this new phase from a strong base, with a skilled staff and well established ways of working."