The FSA has appointed Sally Dewar as managing director of wholesale as part of a huge restructure.
Dewar, who succeeds Hector Sants in the role and has been at the firm since 2002, is currently the director of markets at the FSA.
The FSA says Dewar will have responsibility for all regulated markets, in particular the regulation of firms which conduct primarily wholesale business.
Dewar previously worked at the London Stock Exchange's Listing Authority and spent around six years at KPMG.
Hector Sants says: “I am delighted that Sally will be taking on the role of wholesale managing director, which follows an extensive search both internally and externally to find the right person for this senior FSA position.
“In addition to her technical knowledge and strengths she is also widely recognised across the FSA as an outstanding leader.
“I have worked closely with Sally since I began at the FSA and I look forward to working with her in her new role.”
The FSA has also announced Thomas Huertas, current director of wholesale firms, will take on an enhanced role as banking sector leader.
Stephen Bland, currently director of small firms, will take Thomas Huertas's vacated role but will continue to lead the work on the Retail Distribution Review (RDR).
Two other moves have been announced as part of the FSA's restructure to create a business unit that focuses on providing operational services to the FSA under a chief operating officer, David Kenmir, whilst bringing other aspects of regulation under the retail markets business unit.
Lesley Titcomb, currently director of regulatory transactions division, will become director of the expanded small firms and contact division. Graeme Ashley-Fenn, currently director of the contact, revenue and information management division, will take responsibility for the new regulatory transactions and reporting division.
Sants says: “This reorganisation underpins and supports the FSA's determination to enhance its delivery to small firms which make up some 95% of the firms regulated by the FSA, as well as improving organisational clarity, efficiency and flexibility.”
Huertas, Bland, Titcomb and Ashley-Fenn will start their new roles on 1 February.
020 7034 2636
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till