Briault to leave regulator

Clive Briault, managing director of the Financial Services Authority's (FSA) Retail Business Unit, will step down from his position at the end of April. Briault, who is leaving by mutual agreement, will be replaced by David Kenmir, chief operating officer, who will take over in an acting capacity. Hector Sants, chief executive at the FSA, commented: "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." The FSA said it would be advertising both internally and externally for Briault's permanent replacement.