The new boss of the Financial Conduct Authority has promised to do “everything I can” to reassure EU and other international staff that they are still welcome at the City watchdog.
Andrew Bailey used his first day in charge of the regulator to tell the FCA’s 3,000 workers he is on their side.
He sent a memo to staff that made reference to the referendum on EU membership, as Brexit’s impact on immigration rules is currently unclear.
“I know that the outcome of the referendum has created uncertainties and worries among people who feel that their position will be under threat in the future,” he said in the memo.
“As chief executive I want to assure you that I will be on your side and do everything I can to remove any perceived threats as soon as possible. I will always support you because the FCA is nothing without its people and a workplace which combines talented people and diverse backgrounds is the best sort.”
He is expected to spend the coming weeks meeting staff in different parts of the organisation and attending away days with workers.
The new boss is also planning to meet the women’s network at the FCA as well as attending the embrace committee – a group that focuses on mental and physical wellbeing.
After the summer Mr Bailey is expected to make more announcements on his strategy for the FCA.
Mr Bailey replaces Tracey McDermott, the interim chief of the FCA, who stepped in to fill the job when former boss Martin Wheatley was ousted by George Osborne, the Chancellor, last summer.
Mr Wheatley was the founding chief of the organisation and set out to build its reputation, becoming best known for pledging to “shoot first and ask questions later”.
A crackdown on insider trading, a tightening of mortgage lending rules, and tougher regulations on payday lending were among Mr Wheatley’s biggest projects, but Mr Osborne refused to renew the chief’s term of office.
At the time the Chancellor said he wanted “a tough, strong financial conduct regulator” and that “different leadership is required to… take the organisation forward.”
Mr Bailey moved over from the Bank of England where he was chief executive of the Prudential Regulation Authority, a role he held for more than three years.
He has been replaced at the PRA and as deputy governor of the Bank by Sam Woods, who was promoted from his previous job as executive director of insurance at the PRA.