Tiner tipped for chief exec role at FSA
John Tiner, one of three managing directors at the Financial Services Authority, is the hot favourite for the newly-seperated chief executive role at the City watchdog.
City sources are punting for Tiner to take on the new role. Previously both the chairman and CEO roles were held by Sir Howard Davies, who steps down at the end of September.
Following the Higgs report, which recommended that companies separate out the two roles to improve corporate governance, the FSA has adopted this as best practice.
Tiner heads the consumer, investment and insurance directorate at the FSA and was a former managing partner at defunct firm’s Andersen’s financial services division.
The two other candidates are Carol Sergeant, managing director of regulatory processes and risk and Michael Foot, who is in charge of the deposit takers and markets directorate.
McCarthy was appointed by Gordon Brown yesterday, and the chief executive appointment is expected to be named shortly.