FCA appoints director of environment social and governance

The Financial Conduct Authority (FCA) has appointed Sacha Sadan as director of environment social and governance.

In the newly created role, Sadan will develop and advocate for the FCA’s approach to sustainable finance, both domestically and internationally.

He will lead the development of policy that will help ensure the long-term safety and soundness of firms, the proper functioning of markets and the protection of consumers.

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Sadan joins from Legal and General Investment Management, where he was director of investment stewardship.

He has worked in fund management since 1994.

The FCA has already taken a lead on the development of climate-related regulatory standards, as in December 2020 it put in place a ‘comply or explain’ requirement for premium listed companies to make climate-related disclosures.

In March 2021, the FCA was asked to “have regard to the government’s commitment to achieve a net-zero economy by 2050,” in its letter of recommendations from the Chancellor of the Exchequer.

As part of its transformation programme, the FCA has also appointed Ian Alderton as chief information officer and Ian Phoenix as director, intelligence and digital.

Alderton joined the FCA on a temporary basis in January, and as CIO, aims to drive an ambitious technological change programme designed to help the FCA regulate the 60,000 financial services firms under its remit.

Phoenix will lead the enhancement of the FCA’s intelligence and surveillance capabilities, as well as lead digital work to disrupt harmful online activity.

Nikhil Rathi, chief executive of the FCA, said: “The FCA is rightly seen as an international leader on the role financial regulation should play in delivering a more sustainable and greener future.

“We welcome the recent addition to our remit of a requirement to have regard to the UK target of net zero carbon emissions.

“I am delighted to have someone of Sacha’s experience and insight joining us to help us accelerate this important work.”

Sadan added: “I’m delighted to join the FCA to help promote the UK as a global financial leader in ESG.

“Throughout my career as an asset owner, fund manager and global stewardship director I’ve focused on the protection of consumer interests and responsible capitalism.

“I look forward to using my experience to help pursue these key objectives at the FCA.”