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Updated Wednesday, February 10, 2010 10:07 am TWN, AFP

Financial Sevices chief, Sants, to step down

LONDON -- The Financial Services Authority on Tuesday announced the departure of chief executive Hector Sants, who has overseen plans for large-scale reform of the banking sector following the economic crisis.

“The Financial Services Authority today announces that Hector Sants will leave the organisation in the summer of 2010, after three years as chief executive officer,” the financial watchdog said in a statement.

The FSA added that it would announce the process for picking a successor in due course.

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