Sir Hector Sants appointed chairman of Swiss private bank

Former FSA chief executive Sir Hector Sants is to join Swiss private banking group Julius Baer International as chairman from 1 July.

Sants succeeds head of northern, central and eastern Europe Gian Rossi, who steps down from the role after nine years.

Rossi says: “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.”

In May advisers criticised the decision to appoint Sants to head an investigation into bank competitiveness.

Sants, who presided over the regulator during the financial crisis and the RDR, is heading a team at global management consulting firm Oliver Wyman, where he is vice chairman and partner, and release the first review in autumn.

In November 2013 Sants quit his role as Barclays head of compliance and government and regulatory relations due to stress. He joined the FSA from Credit Suisse First Boston where he was chief executive for Europe, Middle East and Africa.