Sants named as new FSA chief executive

Hector Sants has been appointed chief executive of Britain's Financial Services Authority (FSA). He will take up the post on 20 July 2007, succeeding John Tiner who steps down at the Annual Public Meeting on 19 July.

The appointment of Sants, who is currently managing director of wholesale and institutional markets at the City watchdog, was widely expected.

He is expected to promote a continuation and strengthening of the FSA's much vaunted principles-based regulation. Indeed, Sants made this t