FORMER Royal Bank of Scotland senior executive Johnny Cameron has ended talks to join Greenhill, the independent investment bank, after the Financial Services Authority (FSA) implied that it would not grant the formal approval required for the appointment of individuals by regulated financial institutions.
This follows a promise by Hector Sants, the FSA’s chief executive, to become a “more intrusive” regulator.
There was no direct threat by the FSA to prohibit Cameron, who headed the global banking and markets arm of RBS and was on the bank’s main board, from taking the job, but the regulator’s position left Greenhill and the former RBS banker with little choice but to end talks about his potential role.
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