Clive Briault, managing director of retail markets at the FSA, will leave the regulator at the end of April, it has been announced.
In a note to FSA staff, chief executive Hector Sants said Briault will leave “by mutual agreement”.
Briault had headed the FSA team tasked with overseeing Northern Rock before the Newcastle-based lender's collapse last year.
Briault took on the role in April 2004 after joining the FSA at its inception in 1998 as director of central policy. He became director of the prudential standards division in 2001. Before joining the regulator he spent 18 years at the Bank of England.
David Kenmir, managing director of regulatory services, immediately becomes acting managing director of the retail business unit while the FSA finds a permanent replacement.
Kathleen Reeves, human resources director, becomes acting chief operating officer.
Meanwhile, Sants has allocated directors to the areas of large retail group supervision and financial stability.
David Strachan will concentrate solely on his role as financial stability sector leader, joining the chief executive's office alongside Thomas Huertas, director of wholesale firms. Clive Adamson becomes acting director of major retail groups.
To comment on this story contact:
Tel: 020 7034 2679
E-mail: [email protected]
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October