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Another FSA director quits role

FSA director of authorisations Graeme Ashley-Fenn has resigned from his role at the regulator for personal reasons.

An FSA spokeswoman says Ashley-Fenn left last week to be with a family member who is suffering an illness.

Head of authorisations Sharon Campbell has assumed the director of authorisations role on an interim basis until a permanent replacement is found.

Ashley-Fenn (pictured) was part of the senior management within the FSA’s Consumer & Markets Business Unit as part of the transitional arrangements ahead of the regulator splitting into the Prudential Regulation Authority and the Financial Conduct Authority.

The FSA has seen a raft of senior staff leave since chancellor George Osborne announced the restructure of the regulatory system last June.

These include director of conduct risk and asset management sector leader Dan Waters who stepped down from the regulator in November, and director of financial stability David Strachan who resigned to join Deloitte, also in November.

Head of risk Sally Dewar left the FSA in January to join JP Morgan Chase while managing director of supervision Jon Pain also left in January to join KPMG.

Insurance sector director Ken Hogg then left the regulator in March, to take up a role at reinsurer RGA.

The FSA’s annual report for 2010/11, published this week, revealed that annual staff turnover at the FSA has more than doubled over the past year from 4.9 per cent to 10.4 per cent.

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. Exasperated me 16th June 2011 at 9:21 am

    Glad his resignation had nothing to do with the incompetence surrounding authorisations over the last couple of years.

  2. @Exasperated me. You’re glad he has a family member who is suffering an illness?

    Your comments, as always, provide valuable insight and learning for the Money Marketing community.

  3. @Bemused. If I was the FSA and I was happy with his work I would give him all the time off required to tend to his family member until the situation improves.

    You should calm down dear, stress can make you ill and cause you to read more into comments made on here than exists in reality.

  4. Ignore him Bemused. His pathetic whimpering rants against the FSA know no bounds…..

  5. FSA staff are members of the human community and should be treated with dignity. It the FSMA 2000 that is to blame not the individuals.

    It just a pity that not a thought goes out to the 10,000 advisers “destroyed” financially by RDR at the hands of this quango.

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