Smith leaves Collins Stewart

Terry Smith, one of the UK's best-known investment bankers, is to retire from stockbroker Collins Stewart to focus on running inter-dealer broker Tullett Prebon as well as his new fund management venture.

By The Newsroom

Published 13th Oct 2010, 19:21 BST

Updated 14th Oct 2010, 00:08 BST

Collins confirmed yesterday that Smith would retire as its deputy chairman on 6 December. He has spent 18 years at the firm and was its chairman from 2006 to 2010.

Smith said: "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's move into fund management will open another chapter in his varied 35-year career in the City. He was one of the top-rated banking analysts of the late 1980s.