Hector Sants take ups FSA chief executive role

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Hector Sants has been appointed chief executive of the Financial Services Authority (FSA). He will take up the post on July 20, succeeding John Tiner, who steps down today at the Annual Public Meeting.

Prior to the appointment, Hector Sants was managing director of wholesale and institutional markets at the FSA, which he joined in May 2004. Sants joined the FSA from Credit Suisse First Boston, where he was chief executive for Europe, the Middle East and Africa. He joined CSFB in 2000 when the firm merged with Donaldson, Lufkin & Jenrette and was a member of CSFB’s executive board. He was a member of the Financial Services Practitioner Panel and was previously a board member of, among other bodies, the FSA and the London Stock Exchange.

“I am privileged to have the opportunity to take the FSA through the next phase of its development,” said Sants. “John Tiner and his senior management team have laid out a clear path for the future of the organisation. I plan to continue that agenda, ensuring that the FSA itself – and crucially its people – are well-equipped to deal with the complex and constantly changing financial services industry. I firmly believe in the risk-based and more principles-based approach the FSA has pioneered and I will work with the industry to ensure that market solutions deliver the best outcomes for all stakeholders, with a particular focus on consumers.”