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Crompton heads for the exit after just one year at UKFI

JOHN Crompton, the investment banker who has been managing the government’s banking assets at UK Financial Investments (UKFI), has quit the Treasury agency.

UKFI announced yesterday that Crompton, head of market investments and formerly of Merrill Lynch, had resigned.

“We are obviously sad that John has decided to leave but fully understand his decision to develop his career elsewhere as UKFI moves into a new phase of its development,” chief executive Robin Budenberg said.

Crompton joined UKFI in December 2008 and has had to grapple with the problems of Royal Bank of Scotland, HBOS, Northern Rock and Bradford & Bingley. The bailed-out lenders are now run by UKFI on behalf of the government.

Crompton previously worked for Morgan Stanley for 20 years and Merrill Lynch for two years.