Briault leaves FSA

Daily news headlines

LONDON – The Northern Rock scandal has claimed its first senior management scalp at a UK regulatory body. The UK Financial Services Authority (FSA) has announced the departure “by mutual consent” of managing director of its retail business unit Clive Briault at the end of April. Briault had served with both the FSA and the Bank of England. David Kenmir, currently chief operating officer, will temporarily take the role until an internal or external replacement is found. Kathleen Reeves, usually human resources director, temporarily steps into Kenmir’s shoes. As part of the shake up of its large retail groups and financial stability division, David Strachan is promoted to the chief executive’s office and appointed to specifically lead financial stability sector leader, while Clive Adamson will direct for major retail groups in an acting role.