Hector Sants told FSA staff in a memo he hoped his decision to remain with the regulator would be a "welcome one".
Sants sent the internal message yesterday, after Chancellor George Osborne announced the previously-outgoing FSA chief executive would actually remain in the City as head of a new Bank of England subsidiary, the Prudential Authority. He will also remain at the FSA to oversee the transition to the Government's new system of regulation. In the memo, seen by Sky News, Sants said: "The announcement made [on Wednesday] night by the Chancellor may have come as a surprise to many but hopefully as a welcome one." "You can be assured I will now be applying myself with great determination to...
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