Treasury to advertise for FSA top job
The person chosen to become the new chairman of the Financial Services Authority will be recruited through advertisements in national newspapers and on the Treasury's website.
This recruitment strategy to replace Sir Howard Davies, who will step down in October to head up the London School of Economics, was announced by chancellor Gordon Brown in parliament today.
In a statement, the Treasury said it would be looking for ‘an individual of the highest calibre to lead the FSA in delivering a strong and effective financial services regulatory regime’.
Whoever is selected to replace Sir Howard can expect a salary in the region £370,000 per annum.
The Treasury also confirmed that it would appoint a separate chief executive for the FSA.
It is widely speculated that this could be one of the three current managing directors of the FSA, John Tiner, Michael Foot or Carol Sergeant.