David Kenmir is to take on a new role as head of intermediaries in an FSA reshuffle.
A document seen by Money Marketing outlining the changes reveals that the reorganisation will see Kenmir move from his position as director for investment firms to sector leader for retail intermediaries. He will also take on responsibility for the FSA Gateway project involving management of the regulator's communication and contact centres.
Kenmir has significantly raised his public profile within the IFA community over the last 12 months, winning respect for his efforts to resolve the professional indemnity insurance crisis.
The changes are part of the FSA decision to restructure its management into three units – regulatory services, retail markets and wholesale and institutional markets. Managing directors for each section are yet to be appointed.
Kenmir will be one of eight sector leaders who include Anna Bradley in charge of consumers and David Strachan as sector leader for insurance.
The shake-up will see Dan Waters as sector leader of asset management and also given cross-divisional responsibility for retail policy.
FSA spokeswoman Louise Buckley says: “At the moment, the exact parameters of the structure are yet to be decided.”
Michael Philips proprietor Michael Both says: “He is a definite maybe and I am cautiously optimistic about this. He is a career FSA person and clearly an insider who does seem to understand the issues facing advisers.”