The Futures and Options Association (FOA) has welcomed the appointment of Hector Sants as the new Chief Executive of the Financial Services Authority (FSA).
Hector Sants is currently managing director of wholesale and institutional markets at the FSA, which he joined in May 2004.
“The FOA looks forward to a continuing and positive dialogue with Hector Sants when he moves from his current position to take up the post of Chief Executive of the FSA later this month,” says the FOA’s Chief Executive, Anthony Belchambers.
Chairman of the FSA, Callum McCarthy adds: “We conducted a very thorough search, and we believe Hector’s combination of financial services industry experience, intellectual engagement and leadership skills best equips him to lead the FSA.”
Sants will take up the post on 20 July 2007, succeeding John Tiner who steps down at the Annual Public Meeting today.
“I plan to ensure that the FSA itself – and crucially its people – are well-equipped to deal with the complex and constantly changing financial services industry,” says Hector Sants. “I will work with the industry to ensure that market solutions deliver the best outcomes for all stakeholders, with a particular focus on consumers.”