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FSA appoints new managing directors

The FSA has appointed three new managing directors to fill the gap in its senior management team.

The regulator has made two internal promotions and hired one managing director from the industry.

Clive Briault, the FSA&#39s present director of prudential standards, has been promoted to managing director, retail markets. Briault will have the responsibility for regulating firms whose business is predominantly at the retail end of the market. This will include insurers, high street banks, building societies and mortgage lenders and retail intermediaries.

He will also have overall responsibility for the regulator&#39s consumer agenda, which will include work on raising consumer&#39s financial capability.

FSA director of investment firms David Kenmir has been promoted to managing director, regulatory services and will develop the range of services to consumers, existing firms and firms seeking authorisation. He will also manage the FSA&#39s internal requirements for IT and knowledge management.

Credit Suisse First Boston&#39s current chief executive for Europe, the Middle East and Africa, Hector Sants, has been hired as managing director, wholesale and institutional markets.

Sants, Briault, and Kenmir will also become members of the FSA Board.
FSA chief executive John Tiner says: “I am delighted with our new team. They bring proven leadership skills, extensive knowledge and experience of the financial services industry and its regulation and the clear vision to enable us to realise our aim of delivering efficient, orderly and clean financial markets and helping retail consumers achieve a fair deal.”

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