UK Financial Investments has appointed a headhunter founded in 2008 by the ex-global head of financial institutions at Heidrick & Struggles to manage the search for John Crompton's replacement as head of market investments.

UKFI, the body set up to manage the UK Government's stakes in the banking sector, has appointed executive search consultant Stonehaven to manage the search for a new head of market investments, Financial News has learnt.