The Board
The FSA is governed by a Board appointed by the Treasury.
The majority of the Board members are non-executive. In addition to the Chairman and Chief Executive, there are currently three Managing Directors and nine non-executive members of the Board, of whom one, the Deputy Governor (Financial Stability) of the Bank of England, is an ex officio director. One of the non-executive members is Deputy Chairman and ‘lead’ non-executive. The non-executive directors check that we operate efficiently and economically, oversee our mechanisms of financial control and set the pay of the executive members of the Board.
FSA board members as at 1 April 2009
Chairman
Adair, Lord Turner
Adair Turner was appointed FSA Chairman in September 2008. He has combined careers in business, public policy and academia.
Chief Executive, FSA
Hector Sants
Hector Sants was appointed FSA Chief Executive in July 2007. He joined the FSA in May 2004 as Managing Director, Wholesale and Institutional Markets at the Financial Services Authority. Hector had responsibility for all regulated markets, the related infrastructure such as clearing and settlement, the operation of the UK Listing rules and regulation of firms or groups which conduct primarily wholesale or institutional market business between professionals.
Other board members
Sally Dewar- Managing Director, Wholesale, the FSA
Sally Dewar was appointed Managing Director for Wholesale Markets in January 2008. She joined the London Stock Exchange's Listing Authority in 1998 and from 2002 to 2005 was the Head of Primary Markets in the Markets Division of the FSA before becoming Director in October 2005.
Carolyn Fairbairn - Non-executive FSA Board member
Carolyn Fairbairn joined the FSA Board in December 2007. She is the Director of Group Development and Strategy at ITV plc. Carolyn is chair of Freesat and Friends Reunited, deputy chair of the Royal Television Society, and also a non-executive director of Digital UK, the organisation leading the UK's switch to Digital TV.
Carolyn Fairbairn's full biography
Peter Fisher - Non-executive FSA Board member
Peter Fisher, joined the FSA Board in January 2007. He is currently a Managing Director of BlackRock, Inc., Co-Head of the firm's Fixed Income Portfolio Management Group, and a member of BlackRock's Executive Committee.
Brian Flanagan - Non-executive FSA Board member
Brian Flanagan joined the FSA Board in January 2007. He is a non-executive director of Wm Morrison Supermarkets plc and advisor to Jet Environmental Ltd. He was formerly a Vice President of Mars Inc.
Brian Flanagan's full biography
Karin Forseke - Non-executive FSA Board member
Karin Forseke joined the FSA Board in December 2004. She was Chief Executive Officer of Carnegie Investment Bank AB from 2003 until March 2006.
Karin Forseke's full biography
Professor David Miles - Non-executive FSA Board member
David Miles was appointed a non-executive Director of the FSA on 1st April 2004. David was Managing Director and Chief UK Economist at Morgan Stanley & Co Ltd from 2004 to May 2009. He retains the role of visiting Professor of Financial Economics at Imperial College, University of London. In June 2009 he became a member of the Monetary Policy Committee at the Bank of England.
Professor David Miles' full biography
Jon Pain - Managing Director, Retail Markets
Jon Pain joined the FSA in September 2008 as MD of the Retail markets. Jon has overall responsibility for regulating firms or groups whose business is predominantly with retail consumers. In addition, he has responsibility for key consumer-facing functions such as the financial capability programme and the FAA Consumer Contact Centre.
Michael Slack - Non-executive FSA Board member
Michael Slack joined the FSA Board in December 2004. He was Chairman of the Fyfe Group Ltd and is now Chairman of Temporary Cover Ltd. He is also Director of the British Insurance Brokers' Association.
Michael Slack's full biography
Hugh Stevenson - Deputy Chairman, the FSA
Hugh Stevenson joined the FSA Board in June 2004. He is Chairman of Equitas Limited and Chairman of The Merchants Trust Plc. He is also Chairman of the FSA Pension Plan Trustee Ltd and trustee of a number of charitable trusts.
Hugh Stevenson's full biography
Paul Tucker - Non-executive FSA Board member
Paul Tucker joined the FSA Board in March having become the Deputy Governor, Financial Stability of the Bank of England. He is a member of the Bank's Monetary Policy Committee and in addition has specific responsibility for the Bank's work on financial stability.
