Adamson will oversee supervision in the transition branch of the Consumer Protection & Markets Authority (CPMA), the Consumer & Markets Business Unit (CMBU), from April.
As had previously been announced, Martin Wheatley, the outgoing chief of Hong Kong’s financial regulator, will head up the CPMA when it is finally spun out of the FSA in 2012. He will run the CMBU from September this year.
Other appointments at the transitioning consumer authority have been confirmed as Alexander Justham, who will govern markets, Graeme Ashley-Fenn who will be in charge of authorisations, and Sheila Nicholl, who will oversee policy.
Enforcement, headed up by Margaret Cole, is to remain a separate unit for now, according to the FSA in a note today.
Interestingly the FSA has yet to name who will run the consumer affairs unit of the ‘consumer champion’ CPMA, which will also regulate IFAs in the new regime.
A spokesperson says this is because consumer affairs will be managed by a head of department who will report to one of the directors, and not run directly by a more senior director.
Current FSA chief executive Hector Sants will run the FSA’s Prudential Business Unit, the precursor to the new Prudential Regulatory Authority (PRA), with Andrew Bailey, a Bank of England executive director, as his deputy.
Bailey will also control the regulation of retail banks and building societies.
Colin Lawrence, the FSA’s director of prudential risk and a former managing director at Barclays Capital and UBS, will take over the risk specialists aspect of the new regime, it was confirmed today.
Elsewhere, Stephen Bland, current head of wholesale firms, will lead the division overseeing investment and overseas banks.
Julian Adams, director of the retail firms division, will lead on insurance.
Paul Sharma, head of prudential policy, will continue in a similar position.
