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FSA Exec Hector Sants Considers Deloitte Post

By Michael Foster, Blogger

The Financial Times of the United Kingdom is reporting that former Financial Services Authority CEO Hector Sants is considering a position at Deloitte.

Sants worked for the FSA from 2004 to March of this year. In 2007, he also became the Deputy Governor Designate of the Bank of England. He resigned from the FSA in March.

The rumor comes shortly after Deloitte announced that it had hired James L. Kroeker to its stateside practice after Kroeker had worked as Chief Accountant to the Securities and Exchange Commission.

Sants has a background as an investment banker. After receiving his Master’s in Psychology and Philosophy at Oxford, he worked for a stockbroker in 1977 and continued to work as an analyst until 1983. He worked in New York in the 1980’s, until returning to London to work in the City of London for UBS and investment bank Warburg Dillon Read. After that Sants worked at other investment firms until finally joining the FSA in 2004.

Sants has also directed the London Stock Exchange and LCH.Clearnet, as well as serving on several government panels in the UK. His salary at the end of his tenure at the FSA was over £800,000, or $1.3 million.

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