Ex-FSA chief appointed as Julius Baer chairman

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
Ex-FSA chief appointed as Julius Baer chairman

Sir Hector Sants, former chief executive of the Financial Services Authority, has been appointed as chairman of Julius Baer, and will begin the new role on 1 July.

From 1 July 2015 Sir Hector will also be working as vice chairman and partner at Oliver Wyman.

He succeeds Gian Rossi, who is head for northern, central and Eastern Europe and member of the executive board of the firm, who will step down as the chairman after nine years but will remain actively involved with the firm’s business in the UK.

Mr Rossi said: “It is a great honour to welcome Sir Hector to Julius Baer. With his appointment we continue to demonstrate our ongoing commitment to the UK, and I am sure that we will benefit greatly from his long-standing experience in the financial services industry.”

Sir Sants was lined up to head the incoming Prudential Regulation Authority in 2012, but at that time said he was leaving as he had done all he needed to do at the City watchdog.

He left at the end of June 2012, claiming he had completed the fundamental design and delivery of the changes needed to achieve the government’s plan to separate prudential and conduct financial regulation in the UK.

Sir Sants had also planned to leave in 2010 but was persuaded by the Treasury to lead reform of the FSA.

At that time, he said: “When I agreed to stay on as chief executive in 2010, I committed to stay and deliver an orderly transition to the government’s new regulatory structure. The project is now firmly on track and with the establishment of twin peaks within the FSA I will have achieved that goal.”

ruth.gillbe@ft.com