Briault exits FSA as Northern Rock review calls for change

Clive Briault, head of the Financial Services Authority’s (FSA) Retail Business Unit responsible for supervising Northern Rock, is to leave the regulator at the end of April “by mutual agreement”. Lower level supervisors at the FSA are also said to have left the regulator but this has not been confirmed by the FSA. David Kenmir will stand in as managing director of the Retail Business Unit while the job is advertised externally and internally. Kathleen Reeves, HR director, will take on Mr Kenmir’s current role as chief operating officer, also in an acting capacity.