Clive Briault, managing director of the retail business unit at the Financial Services Authority is to step down from his post at the end of April.
Hector Sants, chief executive of the FSA sent a note to staff today, which says: “It is with regret I announce that Clive Briault is leaving the FSA by mutual agreement at the end of April. Clive has been an outstanding colleague who has contributed much to the organisation in his time at the FSA and before that with the Bank of England. I am sure you join me in wishing him all the best for the future.”
David Kenmir will take on the role in an acting capacity. The role will also be immediately advertised externally and internally. Kathleen Reeves, HR director, will take on Kenmir’s current role as chief operating officer, also in an acting capacity.
Sants adds: “Furthermore, in order to strengthen our capacity in the key areas of large retail group supervision and financial stability, I have decided to allocate them dedicated directors. David Strachan will concentrate solely on his role as financial stability sector leader. He will join the chief executive’s office alongside Thomas Huertas. Clive Adamson will then take on the role of director of Major Retail Groups, again in an acting capacity. These will be effective from 7 April. This role will also be advertised externally and internally immediately.”