Andrew Wigston Appointed Interim Head of Supervision & Compliance Monitoring at the PSR

The Payment Systems Regulator (PSR) has announced the appointment of Andrew Wigston as its interim Head of Supervision and Compliance Monitoring (SCM), following a competitive selection process. The appointment takes effect immediately and will initially run for six months.

Wigston succeeds Oliver Hanmer, bringing extensive regulatory and supervisory expertise from his time at the Financial Conduct Authority (FCA), where he served as Head of Financial Crime Supervision and previously as Head of UK Retail Banking Supervision. His background also includes experience within the FCA’s Enforcement division, providing him with a broad understanding of regulatory oversight and enforcement in the financial sector.

In his new role, Wigston will lead the SCM function and its work programme, ensuring that payment firms meet their regulatory obligations, addressing poor practices, and driving better outcomes for users of payment systems. The SCM department is central to the PSR’s mandate to promote competition, innovation, and the protection of consumers in the UK’s rapidly evolving payments ecosystem.

Commenting on the appointment, Deb Jones, PSR Deputy Managing Director, said:

I’m delighted with Andrew’s appointment. He brings huge amounts of relevant experience to the role, having previously led retail banking supervision and financial crime departments, as well as working in the FCA’s Enforcement division. With the SCM department responsible for the supervision of payment firms, their compliance with our directions, and enforcement, Andrew’s experience is a strong fit.

This is an important time for the PSR and payments regulation. Andrew will take a prominent role in leading our day-to-day supervision of the payments sector—working closely with firms, users, representative bodies, and other stakeholders—to make sure our directions are followed and our objectives achieved. With the PSR preparing for consolidation into the FCA, Andrew will also play a critical role in helping our people adapt and thrive as they transition.

Reflecting on his new role, Andrew Wigston added:

The regulation of payments has never been more important, and I’m delighted to take on this role. Working closely with our colleagues at the FCA, the work of the PSR has the potential to transform the payments landscape for the good of all users, and I can’t wait to get started.

Read the press release here.