Former Financial Services Authority chief executive Hector Sants has been appointed the first chairman of the new single financial guidance body (SFGB).

Mr Sants was revealed today as having been awarded the role at the new SFGB on the Cabinet Office public appointments web page announcing four non-executive directorial vacancies at the new body. 

In October 2016 the Government announced that it planned to replace the three current guidance organisations – The Pensions Advisory Service (TPAS), Pension Wise and the Money Advice Service (MAS), with a single public body, offering debt advice, money and pensions guidance – the Single Financial Guidance Body (SFGB).

The naming of Mr Sants on the website was not announced publicly with the announcement date of the appointment listed as “TBC” on another website advertising the position.

Previously, in January 2013, Mr Sants was appointed head of compliance and government and regulatory relations at Barclays following his five year stint at the FSA from 2007 to 2012.

On 15 October 2013, Barclays announced that Mr Sants was taking three months' sick leave as he was suffering from "exhaustion and stress.”

He resigned from the bank on 13 November.

The Cabinet Office has been asked for comment.