New chief executive appointed
appointment: Alex Chisholm has been appointed as the new chief executive of the Competition And Markets Authority (CMA) by Business Secretary Vince Cable.
Mr Cable said: "As a single, streamlined authority, the CMA will drive competition policy.
"There are substantial economic benefits from a tough regime cracking down hard and quickly on cartels and monopolies.
"I am very pleased Mr Chisholm is joining the CMA as chief executive.
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"His expertise in economic regulation and wider experience in business and the public sector will play a crucial role strengthening the UK's world-class competition regime, building on the excellent record of the Office of Fair Trading and Competition Commission."
The independent body brings together the Competition Commission and the competition functions of the Office Of Fair Trading.
CMA chairman Lord David Currie said: "I greatly look forward to working with Alex Chisholm to make the Competition And Markets Authority a world-class competition and consumer protection body, that will generate major benefits for the British economy and for consumers and businesses."
Mr Chisholm will take up his five-year appointment on March 25.
He said: "I am delighted to have the opportunity to lead the establishment of the Competition And Markets Authority, which has a vital part to play in helping competition and markets to thrive during this time of significant economic challenges.
"I look forward to working with the Office Of Fair Trading and the Competition Commission."