REFILE-UPDATE 1-Banker Terry Smith to leave Collins Stewart

(Correcting spelling of Tullett in first bullet)

* Smith to focus on Tullett and new Fundsmith venture

* Smith to retire from Collins Stewart on Dec. 6

(Adds detail, background)

LONDON, Oct 13 (Reuters) - Terry Smith, one of Britain's best-known investment bankers, is to retire from stockbroker Collins Stewart CLST.L to focus on running inter-dealer broker Tullett Prebon (TLPR.L) and on his new fund management venture.

Collins Stewart said on Wednesday that Smith would retire as its deputy chairman on Dec. 6.

He has spent 18 years at the firm and was its chairman from 2006-2010.

"All good things must come to an end and I will now focus on Tullett Prebon and new challenges, in particular my new fund management venture Fundsmith," Smith said in a statement.

Smith's move into fund management will open another chapter in his varied 35-year career in the City finance district.

He was the top-rated banking analyst in the late 1980s, famously issuing a "sell" recommendation on UK bank Barclays (BARC.L) while working for BZW, Barclays' own investment bank.

He was fired as head of research at UBS (UBSN.VX) in 1992 after penning "Accounting For Growth", a best-selling book that criticised the accounting practices used by some of the UK's biggest companies - including some clients of UBS.

(Reporting by Sudip Kar-Gupta, editing by James Davey)