Payment Systems Regulator brings in new Head of Policy

The Payment Systems Regulator (PSR) has appointed economist Paul Smith as Head of Policy.

Paul Smith has previously worked at Ofgas (Now Ofgem) beofre moving to Postcomm (Now Ofcom). He was recently Chief Executive of the Australian Energy Market Commission (AEMC) having been promoted from the position of Senior Director, Strategy and Economic Analysis. He also spent four years as Principle of Cambridge Economic Policy Associates, which provides economic and financial consultancy services.

PSR say Paul will begin his new role on 1st February this year and will be responsible for leading the development of regulatory policy and working with the industry to deliver the statutory objectives of the organisation. This includes ensuring that payments systems are operated and developed in the best interests of businesses and consumers, promoting competition within the industry and supporting innovation in payments systems.

Speaking about his new role, Paul Smith said: “The PSR has, in a very short time, established itself as an important and influential regulator that plays a vital role in the payments industry and across the wider financial sector.

“The challenges that the industry will encounter over the coming years will need a regulator that has a steady hand on the tiller and I relish the opportunity to join such an important organisation at such an interesting time.”

Hannah Nixon, Managing Director at the Payment Systems Regulator said: “As our organisation continues to grow, so will the importance of having a strong team that can work with the industry to make sure payment systems work as well as they can.

“Paul brings with him a wealth of experience that will help to strengthen our senior leadership team and allow us to achieve these goals.”

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