FSA CEO to Step Down From Role

The Chief Executive Officer of the Financial Services Authority is to leave the organisation in June of 2012.

Hector Sants, chief executive (CEO) of the Financial Services Authority (FSA), has announced his intention to leave the organisation at the end of June 2012, having completed the fundamental design and delivery of the changes needed to achieve the Government’s plan to separate prudential and conduct financial regulation in the UK.

During his five years as CEO he has led the radical overhaul of the FSA’s pre-crisis approach to regulation, to a more proactive, intensive and judgment-led approach, for both prudential and conduct supervision. He has been instrumental in driving the reform of the capital and liquidity regimes for banks, championed the need for stronger governance and accountability within the industry and overseen the FSA’s transition to become an effective enforcer.