FSA's Ross beats off rivals to secure ESMA nomination

She will take up the role as executive director of the new Europe-wide regulator subject to confirmation by the European Parliament. The position, in which she will be entrusted with the day-to-day management of ESMA, is for a term of five years, renewable once. EU nations and the parliament agreed last year to establish ESMA as one of three authorities in London, Paris and Frankfurt to regulate the banking, securities and insurance industries respectively. None of the chairmen of the three bodies come from the FSA or European Commission, but a slew of current FSA staff have been g...