John Tiner is to become the new chief executive officer at the Financial Services Authority.

He will become the first chief executive of the FSA after it was announced by the government that the role and that of chairman be split.

Callum McCarthy, currently chief executive of energy regulator Ofgem, replaces Sir Howard Davies in that post.

Both men start their new jobs on September 22 this year.

Tiner's appointment was welcomed by Treasury minister Paul Boateng.

"I am pleased with the appointment of John Tiner as chief executive of the FSA," he said. "His extensive knowledge and experience of the financial services market will be invaluable."

"His expertise in regulatory regimes will be particularly important when the FSA assumes responsibility for general insurance and mortgages next year."

Before John Tiner joined the Financial Services Authority, he spent 22 years with Arthur Andersen, rising to become managing director of their global financial services industry.

He has spent the last two years as managing director of consumer, investment and insurance at the FSA.