Hector Sants, the chief executive of the Financial Services Authority (FSA), Britain's financial regulator, will leave in the summer.
The announcement, made Tuesday, surprised many in the City of London. However, Sants' contract was up in July and he was not expected to renew.
Sants said on Tuesday: "When I was appointed I told the board that I planned to serve for three years, and I intend to stick to that timetable. Of course, those three years have encompassed the most extraordinary circumsta