LONDON The chairman of Britain's Financial Conduct Authority (FCA) will leave the organisation at the end of his term on March 31 next year, the FCA said in a statement on Sunday.
John Griffith-Jones, who is also the chairman of the Payment Systems Regulator (PSR), will leave both bodies. He took on the role at the FCA in April 2013.
"John Griffith-Jones has provided strong leadership to both Boards during his tenure, helping to establish them as key parts of the UK financial regulatory system," finance minister Philip Hammond said in a statement.
The finance ministry will now begin recruiting Griffith-Jones' successor at the FCA, which oversees markets to protect the financial system.
(Reporting by Costas Pitas; editing by Andrew Roche)