Heather Clayton

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Regina Finn

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Lucerna has developed a strong network of expert associates who we work with when we need to bring additional expertise and capacity to projects.

Heather Clayton, Director

Heather is an experienced leader of complex regulatory, policy, competition and consumer programmes and casework. Heather has extensive experience of the UK’s competition and consumer regimes, sector regulation and regulators.

Heather’s sector expertise includes health, water, housing, energy, rail, telecommunications, infrastructure, the knowledge economy and financial services.

In the past, Heather worked as a senior director for the OFT; as a lead ombudsman for the Financial Ombudsman Service; as a director at Ofcom; and as a consultant for KPMG. For the OFT, Heather was the senior director for both the Infrastructure and Knowledge Economy market group, and the Consumer group, and successfully delivered many major and high profile market studies, and both competition and consumer enforcement cases.

For Lucerna, she led the programme to establish the Payment Systems Regulator’s day one policies and regulation, redesigned Which? policy functions, and acted for Ofwat as the programme director of Ofwat’s Price Review 2014, taking the programme to successful delivery of the analytical and policy stage. She also acted as a programme director for Monitor, developing and successfully introducing the first NHS provider licence.

Heather’s clients include Thames Water, VISA Europe, Which?, Ofgem, the FCA, the Payment Systems Regulator, Ofwat, ORR, Channel Islands Competition and Regulation Authority and the Financial Ombudsman Service .

In addition to her work for Lucerna, Heather works as a part time ombudsman in financial services. She has a PhD in Electrical and Electronic engineering from King’s College London.

Regina Finn, Director

Regina is an experienced chief executive and strategic leader in sector regulation, competition and consumer policy in the UK and elsewhere. She is also a Board director with both private and public sector expertise.

Regina’s sector expertise includes infrastructure, especially water, energy and telecommunications, and services including financial services and the broader consumer economy.

Regina was the first Chief Executive of Ofwat, the water regulator for England and Wales, headed up the Commission for Energy Regulation in Ireland as well as the Office of Utility Regulation in the Channel Islands. She worked for the Irish Government and as Deputy Director General of the telecommunications regulator in Ireland – now ComReg. She also held non-executive positions with Irish Water and the Channel Islands Competition and Regulation Authority.

For Lucerna, Regina carried out a review of the Energy Ombudsman for Ofgem, led key elements of the design and set up of the Payment Systems Regulator and worked on the redesign of Which? policy functions. She has also reviewed the approach of a water company to its price review submission, advised a potential new entrant to the retail water market and assessed strategic engagement in payments for VISA Europe.

Regina’s clients include VISA Europe, Thames Water, Waterscan, the Edison Electric Institute (with FinAdvice), THREE Ireland (with Oliver Wyman), the FCA, the Payment Systems Regulator, Which? and Ofgem.

In addition to her work for Lucerna, Regina is non- executive Chair of Mutual Energy Limited, a Belfast based company owning interconnection and transmission assets in Northern Ireland.