Kraft adviser to quit Lazard

A KEY financial adviser to US food giant Kraft in its takeover of British chocolate maker Cadbury is to step down from his position at investment bank Lazard.

Peter Kiernan, a managing director in the bank’s mergers and acquisitions team in London, is understood to be tendering his resignation.

He is expected to leave later this year, after seven years with the bank. His departure comes one year after he was forced to withdraw his candidacy for the post of director general of the Takeover Panel.