With more than 35 years' experience in regulation of financial institutions, Mr. Sagar has served various roles at the Financial Services Authority, the agency responsible for the regulation of the financial services industry in the United Kingdom. There, most recently he ran the regulatory transactions and systems support department, where he was responsible for all decisions related to changes in control, passporting notifications, and waivers and modifications of agency rules. His work included developing and implementing a more rigorous evaluation for licensing, helping to ensure that unqualified applicants were prevented from gaining control of authorized firms. He has also held positions as a senior manager in the banking supervision and international divisions of the Bank of England.