FSA managing director of risk quits
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FSA managing director of risk Sally Dewar has announced plans to leave the regulator in May 2011, Money Marketing can reveal.
FSA chairman Adair Turner informed staff this morning in an internal email and a public announcement is due to be made today. (Update: a public announcement has now been made.)
A source close to the regulator says Dewar is leaving becasue she does not want to be considered for the chief executive role, to replace Hector Sants, causing her to re-evaluate her priorities.
Dewar has been a managing director at the FSA since January 2008, initially of the wholesale business unit and most recently of the risk business unit.
She joined the London Stock Exchange’s Listing Authority in 1998 and from 2002 to 2005 was the head of the UK Listing Authority in the markets division of the FSA, before becoming director in October 2005.
As managing director of the risk business unit, Dewar has been responsible for sectoral and market-wide risk identification and mitigation, the overall risk management process and specialist prudential and conduct risk support to supervision and policy formation, covering prudential policy, conduct policy and markets policy.
She also had responsibility for supervision of all regulated markets and the related infrastructure, including clearing and settlement and the UK Listing Authority.
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Readers' comments (21)
John Blackmore | 11 Jun 2010 10:33 am
Keydata
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Malcolm Simpson | 11 Jun 2010 10:44 am
Don't want to be considered for a specific job so you quit your current one. Well that makes perfect sense! Wonder what the real reason is? Of course will become clear when they publish the reasons why letter
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Anonymous | 11 Jun 2010 10:46 am
Out before pushed and no doubt off to line her nest elsewhere before it all folds round her.
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Anonymous | 11 Jun 2010 10:55 am
I should think so too given the appalling incompetence of the FSA and her role in it.
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Andrew Whiteley | 11 Jun 2010 11:01 am
I think she can be pretty proud of her record of identifying and mitigating risk across the financial sector!!
It would seem that the only risk she has actually identifiend and mitigated is the risk of having her head above the parapet.....
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Tracey | 11 Jun 2010 11:05 am
Just had a nice fat bonus. That should buy her some time to consider her options!
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Anonymous | 11 Jun 2010 11:24 am
Another one bites the dust Pitty it is not a big cloud called the FSA
When will they get it
They are a joke !!
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Anonymous | 11 Jun 2010 11:24 am
Send them all on a course called "learning how to sleep at night!!"
Or "look at yourself in the mirror"
or "do I really have morals or a conscience"
or "Just how will I buy my way into heaven"
Or .......... - really why do we even bother, as the ability to identify risk appears to have escaped her - finding the moral high ground could be impossible.
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Anonymous | 11 Jun 2010 11:30 am
In these austere times, this should keep a snout out of the trough. Good riddance.Do not replace.
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MR. JOGGA SINGH TEIDY | 11 Jun 2010 11:44 am
The comments above hit the nail on the head....shows how childish our top executives are...they can't think for toffee to do their job role...
I hope the Con Dem team can sort this mess out and find people who know how to do a job of wrok...and slash their salaries from public purse...
no one believes her it appears...
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