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FSA chief executive to step down in June

Hector Sants, the chief executive of the Financial Services Authority (FSA), has announced that he intends to leave the organisation at the end of June this year.

Sants has been the FSA’s CEO for the last five years and led the overhaul of the organisation’s approach to regulation following the financial crisis.

He has also played a part in the reformation of the capital and liquidity regimes banks must obey, and called for greater accountability in the financial sector.

He had previously announced his resignation in February 2010 and had been due to step down that year, but was asked to say on by the Coalition Government to help it successfully reform the regulatory framework.

Sants explained that he elected to remain on to help ensure an orderly transition was achieved, adding that with the project firmly on track the time was right for him to step down.

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