On 8 May 2025, the Financial Conduct Authority (FCA) announced the appointment of David Geale as permanent executive director for payments and digital finance, and managing director of the Payment Systems Regulator (PSR).

In this role, Mr Geale will be responsible for helping to deliver the National Payments Vision and driving the FCA’s work on open banking and digital finance, as well as playing a key role in the work to consolidate the PSR into the FCA (as announced by the Government in March 2025). He will also be responsible for supervising payments and cryptoasset firms under the recently announced new regime.