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FSA markets division head to leave

Friday 16 September 2011 - by Nicola York

FSA markets division head Alexander Justham is leaving the UK city watchdog after more than four and a half years with the regulator.

An FSA spokeswoman confirmed to Global Financial Strategy that Justham, also known as JJ, is leaving for "personal reasons".

David Lawton, who currently heads up the market infrastructure and policy division, will be taking over from Justham on a temporary basis. The FSA was unable to say who would be replacing Lawton in the market infrastructure team.

The markets division is one of the regulators currently reviewing the Deutsche Boerse and NYSE Euronext merger. However, competition issues lie outside the FSA's remit and it is expected to approve DB/NYSE's change of control function.

The merger has been referred to the European Commission which is currently investigating whether the merged company would be too dominant in the derivatives markets if the deal goes through.

The German regulator Bafin approved the deal earlier this week but it still has to be passed by a number of EU and US regulators.

The departure is another in a long line of exits from the regulator which is overhauling its structure and splitting into two divisions.

Thomas Huertas who headed up the international division and was an expert on bank stability and prudential issues, announced he was leaving over the summer to join Ernst & Young.

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