The Financial Services Authority has announced that Hector Sants will leave the organization this summer, after three years as chief executive officer.

“Hector has given outstanding service and leadership through the turbulent last three years and has played a pivotal role in reforming the FSA into a truly effective organization. He will leave behind an organization with strong purpose and a clear strategy," said Adair Turner, FSA chairman. "In the meantime, we will continue to work together to deliver the FSA’s reformed and intensive supervisory approach and drive forward the global regulatory reform agenda.”

The FSA board has not yet named a successor to Sants.