John Tiner’s decision to leave the FSA took some by surprise but industry experts suggest that the timing of the move is a combination of good governance and personal ambition.
Beachcroft regulatory consulting managing director Richard Hobbs says that by stepping down in July, Tiner ensures his leaving date does not clash with that of chairman Callum McCarthy, whose five-year term ends in September 2008.
Hobbs says if Tiner did not announce his departure now, he would have been tied in to the regulator until 2009.
CMS Cameron McKenna partner Simon Morris says he has been impressed by Tiner’s tenure but suggests there is much to be said for quitting while you are ahead and leaving on a high.
Tiner, who turns 50 next month, says he is moving on to follow another career in the private sector before retiring. He will not be short of job offers when he is allowed off the FSA’s leash in next January.
A senior executive or chief executive role for a listed group or a private equity role is possible as is a senior partnership in a large account-ancy firm, or non-executive directorships.
Hobbs says: “The timing of Tiner’s departure is very sensible in terms of good governance as the FSA would not want McCarthy and Tiner to depart around the same time.