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Francis emerges as FSA candidate

The Treasury is believed to have drawn up a short list for the next FSA boss to replace outgoing chairman Howard Davies and ABI director general Mary Francis could feature prominently on it.

The list, which follows on from last week&#39s deadline for applications, is believed to include Francis, Customs & Excise chairman and former Schroders executive Richard Broadbent and former Treasury second permanent secretary Sir Steve Robson.

It is thought that Robson, who while serving as a senior civil servant in the Treasury was responsible for the development of the FSA, is the Government&#39s favoured candidate.

It is also believed the race for the next FSA chief executive may be heating up, with managing director John Tiner relinquishing his early lead to fellow MD Carol Sergeant.

Tiner was widely thought to be the front runner but it is believed that the Treasury is disappointed with his performance in the split-caps crisis.

A Treasury spokesman says: “We will consider all those who have applied but will not comment at this early stage in the process.”

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