Alexander Justham, director of markets at UK regulator the Financial Services Authority (FSA), has resigned and will leave the company next month. Justham does not have another job lined up, an FSA spokesman told theTRADEnews.com.
Until a replacement is found, David Lawton, head of market infrastructure and policy, will act as interim director of markets. Justham's departure follows that of Thomas Huertas, head of the FSA's international division, in August, and Jon Pain, who left his position as head of the supervision unit in March. Sally Dewar, managing director of risk, left to join JP Morgan Chase in February.
At the FSA, Justham was responsible for directing the regulator's approach to high frequency trading. He also oversaw moves towards the central clearing of OTC derivatives. As head of the markets division, he was also responsible for the UK Listing Authority, market surveillance and investigations into market abuse, and the supervision of the market infrastructure in the UK.
Justham took up his current post in February 2008. Previously, he was head of market infrastructure at the FSA – a position he had held since January 2007 after joining from JP Morgan. Justham was at JP Morgan for 17 years, where he held a number of roles, most recently as managing director at JP Morgan Cazenove, the firm's EMEA-focused investment bank.
The FSA will be replaced in 2013 by two new regulatory bodies, the Prudential Regulation Authority and the Financial Conduct Authority, outlined by the UK government in June 2010.