Terry Smith to leave Collins Stewart

Collins Stewart's deputy chairman Terry Smith is standing down as a director after 18 years at the City stockbroker.Smith, who retires on 6 December, said "all good things must come to an end". He'll now focus on running inter-dealer broker Tullett Prebon and his new fund management venture Fundsmith."Terry Smith has been synonymous with Collins Stewart for many years and has been hugely influential in the development of the Company and the creation of shareholder value," said chairman Tim Ingram.