Headhunting firm Saxton Bampfylde Hever has been appointed to find three new managing directors for the Financial Services Authority (FSA) as part of an overhaul of the body’s management structure.

The FSA is looking for managing directors of three new divisions – regulatory services, which will validate financial data from firms; retail markets, which will have responsibility for the FSA’s consumer finance agenda; and wholesale and institutional markets, which will focus on the regulation of financial markets.

The new structure would enable the FSA to delegate more, act quicker and be more accessible to consumers and businesses, it claimed.

“We need to ensure that our management structure puts us in the best possible position to achieve our vision of maintaining efficient, orderly and clean financial markets and helping retail consumers achieve a fair deal,” said FSA chief executive John Tiner.

The three roles are currently being advertised on Saxton’s web site at a salary of £300,000 a year, and were advertised in the national press at the end of last week.

Saxton Bampfylde Hever has previously dealt with many high profile headhunting assignments, including the placement of Marjorie Scardino, chief executive of Pearson