FSA Picks Sants To Succeed Tiner

Jul 16 2007 | 12:03pm ET

Promoting from within, the chief British regulatory watchdog has named Hector Sants, whose remit included hedge funds and private equity, to its top job.

Sants was named CEO of the Financial Services Authority, and will succeed current CEO John Tiner on Friday. Sants, a former investment banker who served as chief of Credit Suisse First Boston in Europe, the Middle East and Africa before joining the FSA three years ago, is currently head of the regulator’s wholesale and institutional markets division. In that role, he has focused on increasing transparency, as well and carrying out reviews of the risks posed by hedge funds and private equity firms. Still, he is considered something of a regulatory moderate by the City.

“John Tiner and his senior management team have laid out a clear path for the future of the organization,” Sants said of his predecessor, who has been on the job for four years, in a statement. “I plan to continue that agenda, ensuring that the FSA itself—and crucially its people—are well-equipped to deal with the complex and constantly changing financial services industry.”

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