The Financial Services Authority, the UK markets regulator, has advertised for a new £200,000-a-year director to assist Hector Sants in policing investment banks, insurers and fund managers in London.

The successful applicant to the public service job will be one of three directors reporting directly to Sants, the former chief executive of Credit Suisse First Boston in Europe, who starts next week as managing director of the FSA's wholesale and institutional markets division. Sants will be paid £300,000 a year.