FCA CEO speaks at CISI 30th anniversary dinner

Nikhil Rathi was guest of honour at the dinner, held at London Guildhall, 5 May 2022


The CISI plays an incredibly important role, often below the radar, in helping to boost the development of financial services education and skills, both in the UK and emerging markets, said Nikhil Rathi, chief executive of the FCA.

Speaking to an audience of 330 CISI members and dignitaries, some of whom flew in for the occasion, Nikhil highlighted importance of digital skills for both CISI members and FCA staff, promising that every module of FCA staff training will contain a digital upskilling element.

He also mentioned environmental, social and governance (ESG) training and the FCA’s focus on diversity and inclusion across financial services, saying: “Too often, financial services organisations and leaders hire in their own image. We are changing at the FCA. And we have warned this sector that firms that do not embrace diversity of thought will struggle to serve the needs of a diverse customer base and manage conduct risk effectively.”

In his concluding remarks, he stated that both “the CISI and the FCA have a similar function: to boost knowledge, skills and steer professionals towards acting with integrity.”

Read the full speech

The CISI was founded from the London Stock Exchange in 1992. Highlights over the past 30 years include our Colombo office opening in 2011; the introduction of integrity tests for members in 2012, which over 80,000 professionals have now taken; collaborating with two other Chartered bodies to form the Chartered Body Alliance (the CISI, the Chartered Insurance Institute and the Chartered Banker Institute) in 2017, and launching our first joint qualification Certificate in Climate Risk in 2021; introducing remote exam invigilation in 2021, launching a member app in 2021 [13,000 downloads to date] and having 73 global jurisdictions recognise CISI’s exams.

CISI CEO Simon Culhane, Chartered FCSI, standing down in September this year, outlined some of the key highlights from his 18 years as chief executive. He recognised the important contribution from our first ever chair, Graham Ross Russell FCSI(Hon), and Clare Gore-Langton, Chartered FCSI(Hon), an original trustee.

Simon said: “A number of people have asked me what the secret of the Institute’s success is. Firstly, I would say “Act like a charity but think like a business”, always remembering that the Institute is an objective maximising, not a profit maximising, organisation.

“Our people have been a major part of our success over the years. We have over 1,000 volunteer practitioners who play a critical role in providing crucial, relevant and topical knowledge transfer, tested in our exams, and written in our workbooks. Others run regions, organise talks, provide the glue of fellowship, while others sit on our committees and forums. All are critical parts of our infrastructure, and all donate their time voluntarily.

“Our 200 hundred staff, of whom half work outside the UK, are integral to our success. It is their professionalism, their energy, their nimbleness and their creativity, which have enabled the Institute to adapt, respond, grow and flourish. It’s been a privilege to have worked with both groups for almost two decades.”

Published: 09 May 2022
  • Training, Competence and Culture
  • green finance
  • equity and inclusion
  • diversity
  • climate risk
  • Chartered Body Alliance
  • 30th anniversary

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