The FSA has announced the successor to chief executive John Tiner, who is set to step down next Thursday.
Hector Sants, currently managing director of wholesale and institutional markets at the FSA, will take up the post from 20 July. Tiner has been in the role since September 2003.
Sants, who joined the regulator in May 2004, says: “I am privileged to have the opportunity to take the FSA through the next phase of its development.
“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.”
Callum McCarthy, FSA chairman, adds: “I am delighted Hector has emerged as the clear choice from a strong field of internal and external candidates.
“We conducted a very thorough search, and we believe Hector's combination of financial services industry experience, intellectual engagement and leadership skills best equips him to lead the FSA.”
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