Sir Howard Davies to quit FSA ahead of time

Sir Howard Davies will quit his position as FSA chairman at least four months ahead of schedule to take up the role of director at the London School of Economics. Davies' tenure as chairman was not due to finish until January 2004, but he said last week he will now only continue until a successor is appointed ahead of his departure for the LSE in October 2003. FSA managing directors John Tiner and Carol Sergeant and Bank for International Settlements chief Andrew Crockett are believed to be among those under consideration to succeed Davies.