Management Changes Announced At FSA

by Jason Gorringe, Tax-News.com, London

21 March 2008

Hector Sants, Chief Executive of the Financial Services Authority (FSA), announced on Wednesday a series of management changes within the body.

In a note to FSA staff, Mr Sants stated that:

"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."

He went on to add: "David Kenmir will take on the role as Managing Director of the Retail Business Unit, in an acting capacity. The role will also be immediately advertised externally and internally. Kathleen Reeves, HR Director, will take on David Kenmir's current role as Chief Operating Officer, also in an acting capacity. These changes will be effective immediately."

"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."

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