FCA hires L&G's Sacha Sadan for ESG role

The Financial Conduct Authority has hired Sacha Sadan from Legal & General as the regulator's first director of environment, social and governance (ESG).

Sadan will develop and put forward the FCA's approach to sustainable finance in the UK and abroad. The FCA said he would work on policies to make firms safe and sound, support properly functioning markets and protect consumers.

As Legal & General Investment Management's stewardship director Sadan has been a powerful advocate for proper corporate governance and responsible behaviour at companies. He has worked in fund management since 1994.

Chancellor Rishi Sunak instructed the FCA and the Bank of England's Prudential Regulation Authority in March to consider climate risks and trends in their decisions. In December the FCA told premium listed companies to make climate-related disclosures.

Sadan said: "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."

The FCA also appointed Ian Alderton as permanent chief information officer after he joined on a temporary basis in January. Ian Phoenix is joining from the UK civil service as the FCA's director of intelligence and digital to improve the regulator's intelligence and surveillance capabilities.