On 10 January, the FSA announced the appointment, as of 1 February 2008, of the following:

  • Sally Dewar as the new managing director of Wholesale & Institutional Markets Business Unit and a member of the FSA Board (succeeding Hector Sants, who is now FSA chief executive). She will have overall responsibility for all regulated firms and markets, including market infrastructure, such as clearing and settlement, listing rules and the regulation of firms conducting primarily wholesale or institutional business;
  • Stephen Bland as director of the Wholesale Firms Division within the Wholesale & Institutional Markets Business Unit, who takes on Thomas Huertas' former position supervising fims operating in the wholesale market - although he will continue to lead the work on the Retail Distribution Review;
  • Thomas Huertas as banking sector leader - overseen by Hector Sants;
  • Lesley Titcomb as director of the expanded small firms and contact division; and
  • Graeme Ashley-Fenn will take responsibility for the new regulatory transactions and reporting division.