The Financial Services Authority may be about to be vastly diminished, but its 3,000-plus members of staff will have no trouble finding better paid positions elsewhere, according to headhunters who are already seeing a big rise in the number of CVs they are receiving from staff at the UK regulator.

John Purcell, founder of headhunter Purcell & Company, said: "Lots of people built their careers at the FSA and are now looking to cash in on the experience. Despite the suggestion that it failed as an institution, senior people in compliance and regulation within the FSA will be in huge demand and can expect to make 3 to 4 times their existing package."