FSA appoints new MD of wholesale

Sally Dewar has become the new managing director of wholesale at the UK Financial Services Authority (FSA), in one of several organisational changes at the regulator.

Dewar was previously the FSA’s director of markets. She fills the vacancy left by Hector Sants, who replaced John Tiner to become the regulator’s chief executive in July 2007. The move will see her join the FSA board.

She takes responsibility for all regulated markets, including market infrastructure such as clearing and settlement, listing rules and the regulation of firms conducting primarily wholesale or institutional business.

Dewar joined the FSA as head of primary markets in 2002, before being promoted to director of markets in 2005. She previously worked at the London Stock Exchange’s Listing Authority.

The FSA has also announced Thomas Huertas, presently its director of wholesale firms, will take on the newly created role of banking sector leader. He will report directly to Sants.

The FSA said the new role had been created to ensure it had the “necessary focus and resources” to deliver improvements to the banking industry’s regulatory framework planned by the UK’s financial authorities. Director of small firms Stephen Bland will take Huertas’ old job as head of wholesale firms.

Bland’s former post as director of small firms is being expanded as part of a broader restructuring at the FSA. Lesley Titcomb, who is currently director of the regulatory transactions division, will become director of the regulator’s new small firms and contact division. Meanwhile, Graeme Ashley-Fenn, director of the contact, revenue and information management division, will take responsibility for the newly created regulatory transactions and reporting division. Both Titcomb and Ashley-Fenn will report to retail managing director Clive Briault.

Dewar remains in London in her new role; as do Huertas, Bland, Titcomb and Ashley-Fenn, who will take their new posts in February.

See also:
FSA names new chief executive
FSA chief exec to stand down