WIREDGOV

Rachel McLean, Transport for London's (TfL's) Chief Finance Officer, will be retiring from TfL in February 2026. Her stellar career shaping London's transport network has seen her play a central role in enabling TfL to achieve an operating surplus for the first time in its history, securing the first long-term capital funding agreement with Government since before the pandemic and delivering the game-changing Elizabeth line.

Rachel was appointed as TfL's Chief Finance Officer in October 2022 and was previously the CFO for Crossrail and Finance Director for Operations, having re-joined TfL in January 2020 from the Ministry of Housing, Communities, and Local Government where she was a Board Member and the Director General - Chief Financial Officer.

Rachel was also previously the Director of Planning, Performance and Finance at HMRC Customer Services.

London's Transport Commissioner, Andy Lord said: 

'Rachel's retirement marks the close of an extraordinary chapter. Over her tenure she has led TfL to its first-ever operating surplus, delivering this milestone for two consecutive years, and with a third year of surplus set as our budget for this year. She has also been instrumental in securing a long-term capital funding agreement with the Department for Transport (DfT) - a transformative achievement that will support our future ambitions. This, and her work to deliver Crossrail, leaves a lasting legacy for London.

'Rachel's ability to influence and engage stakeholders at every level has been a defining strength. Her clarity, credibility, and calm leadership have earned trust across both central and local government, industry, and within our own teams - helping us navigate complexity with confidence.  We wish her a happy and fulfilling retirement.'

Rachel McLean, Transport for London's Chief Finance officer, said: 

'It has been an immense honour and privilege to play a small part in the success of TfL and this wonderful, vibrant city we serve. Even though I am retiring, I am confident that the exceptional leadership and committed teams working at TfL will make even greater progress in the months and years ahead.'

TfL will now commence a recruitment process to appoint a successor to the role.

Notes to editors:

Rachel McLean's final working day will be 13 February 2026.