FSA sees fresh senior departure

THE Financial Services Authority’s (FSA) head of supervision for UK life insurers is leaving the regulatory agency, the latest in a string of senior-staff departures.

Stuart King, who has been with the regulator in a variety of roles since its creation in 1998, is leaving to become a managing director at regulatory-consulting firm Promontory Financial Group.

A series of top staff, including Jon Pain, head of supervision and David Strachan, the head of financial stability, are also planning an exit after the government’s decision to break up the regulator last year.