International management consulting firm Oliver Wyman, a wholly owned subsidiary of Marsh & McLennan Companies, reports that the former head of the Financial Services Authority (FSA) Sir Hector Sants will join the firm as a partner and vice chairman, officials say.
From mid-2007 to mid-2012, he was the chief executive of the FSA in the U.K., the financial regulatory body then responsible for oversight of the UK’s financial markets.
Sants led the FSA during the financial crisis and was knighted for services to financial services and regulation in 2013, according to an Oliver Wyman statement. He will be based in the London office effective July 1, 2015. Until then, he will continue to serve as chief advisor to Abu Dhabi Global Market, a financial services hub for local, regional, and international institution that will launch formally in 2015.
Sants is a corporate governance, regulatory reform, and management veteran, with experience in both the public and private sectors, most recently at Barclays Bank, where he served as head of compliance and government and regulatory relations, according to the statement, which specifies that he joined the FSA from Credit Suisse First Boston, where he was CEO of Europe, Middle East, and Africa and a member of CSFB’s executive board. He began his professional career as an investment analyst at Phillips & Drew.
Sants also has been a member of the financial services practitioner panel, and a board member of, among other bodies, the Securities and Futures Authority and the London Stock Exchange.
Outside the financial services realm, he has been chair of the University of Oxford’s Said Business School, and a non-executive director of a National Health Service trust. He also is currently a trustee of the Art Room charity.
Sir Hector also is chair of the Archbishop of Canterbury’s task group on promoting responsible savings and credit, exploring the role the Church can play in this area. The group’s initial focus is on education, financial advice, and credit unions, according to the statement.
(Photography by Andrew Smart of A.C.Cooper Ltd., London.)
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