The chief executive of Fidelity International has today been named as the next board chair of the Square Mile’s most influential lobbying body.
Dame Anne Richards will take over the position from Mark Tucker, chairman of HSBC Holdings, who will step down at the end of May 2022 after three years in the role.
Richards will work closely with the group’s leadership council chairman Sir Adrian Montague while leading the board and the executive team to “champion and support the success of the UK-based financial and related professional services industry,” TheCityUK said in a statement.
Speaking about her priorities as the new chair, Richards said: “As we emerge from the pandemic, new ways of working, technological innovation and heightened expectations will continue to revolutionise how we operate and serve our customers.”
“We must also play our part in accelerating a just and sustainable transition to a low carbon economy,” she continued.
TheCityUK is an lobbying body that represents financial and related professional services in the UK. Earlier this year the body conducted research which found that the City generated nearly £100bn in taxes last year, highlighting the degree to which the government relies on finance, law and accountancy firms for cash.
The financial, legal and accountancy sectors contributed nearly £13 for every £100 in taxes, according to lobby group.
But the group has also warned that the City is at risk of losing its status as a global financial powerhouse within the next five years.
Richards, who has worked in the asset management sector for almost three decades, was made CEO of Fidelity International in 2018 after starting her career as a research fellow at CERN, the European Organisation for Nuclear Research.
A board member of the Institute of International Finance (IIF) since last year, Richards was appointed a Dame Commander (DBE) this summer for services to financial services, women, education and science.