FSA managing director of risk, Sally Dewar, is set to leave the regulator next year, the FSA announced today.
Executive director Dewar said she is stepping down in May after deciding not to put herself forward for the chief executive role soon to be vacated by Hector Sants.
Dewar earned a salary of £400,000 in the year to 31 March 2010 plus a bonus of £85,000 and 'other benefits' of more than £91,000.
She says the FSA has been at the forefront of global policy developments and managed to implement a "significant change programme" amid ongoing uncertainty over its future.
"It has been an extraordinary time and one which has had a lasting impact both on the FSA but also on me personally," she says.
"Having reflected and made the decision not to put myself forward for the chief executive role, regardless of future regulatory structure, I feel now is the right time for me to step down from the FSA board and pursue new opportunities."
Dewar joined the FSA in 2002, becoming markets director in 2005 and a managing director in 2008.
Outgoing CEO Hector Sants says Dewar played a pivotal role in implementing the FSA's reform agenda.
"I am particularly grateful for the personal support she has shown me and, on behalf of the whole organisation, wish her the very best for the future."
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