FSA enforcement chief quits for Deutsche Bank

The Financial Services Authority’s (FSA) director of enforcement Andrew Procter has quit the City regulator to join Deutsche Bank.

Procter, who has been at the FSA since 2001, is leaving the FSA at the end of the week to join Deutsche Bank as the German Bank’s head of compliance for UK and Western Europe – a role, which is understood to have been vacant for some time.

Commenting on his decision to leave the FSA Procter said: “I loved working at the FSA and it has been an interesting and challenging place to work but an opportunity arose, which looked interesting.”

He added that the highlight of his time at the FSA was speeding up the investigation process.

During Procter’s tenure the FSA also handed out a £17m fine to oil giant Shell – the biggest ever fine handed out by the regulator.

David Mayhew, a former Clifford Chance partner, will take over Procter’s role temporarily as the FSA identifies a permanent successor.