David Rule has resigned as ISLA Chief Executive in order to take up a position as Head of the Financial Stability Division at the Financial Services Authority. Rule will leave ISLA at the end of July.
The ISLA Board will be looking to appoint a successor as soon as possible.
Following his departure from UBS Limited, Laurence Marshall has also stepped down as ISLA Chairman. According to the Rules of the Association, James Templeman of Barclays Global Investors, previously Vice Chairman, has assumed the role of Chairman with immediate effect.