Hector Sants, the Chief Executive of the UK's financial regulator, the Financial Services Authority is a former stockbroker, specialising in equities, whose subsequent career developed in investment banking, first within UBS, who acquired his first employer, City stockbroking firm Phillips & Drew in the 1970s.
He left investment banking to join the FSA in 2004 as the Managing Director responsible for Wholesale and Institutional Markets. He said at the tiime that he wanted to give something back. He was appointed FSA Chief Executive in July 2007, the timing of which might not have been regarded as fortuitious for a financial regulator, since that very moment coincided with the onset of the credit crisis.
It is to his credit though that he has survived the crisis intact, not the experience of regulators everywhere, and is in a key position now to flex the newly enhanced powers that he is inheriting, some of which his organisation has already displayed.
He left investment banking to join the FSA in 2004 as the Managing Director responsible for Wholesale and Institutional Markets. He said at the tiime that he wanted to give something back. He was appointed FSA Chief Executive in July 2007, the timing of which might not have been regarded as fortuitious for a financial regulator, since that very moment coincided with the onset of the credit crisis.
It is to his credit though that he has survived the crisis intact, not the experience of regulators everywhere, and is in a key position now to flex the newly enhanced powers that he is inheriting, some of which his organisation has already displayed.