Who'll boss our banks?
John Kingman is to quit as chief executive of UK Financial Investments, the arm of the Treasury that manages taxpayers' huge holdings in Royal Bank of Scotland and Lloyds.
Some would say that Kingman is the most powerful public official in the UK, in that UKFI is also taking over responsibility for Northern Rock.
There'll be some surprise that he is choosing to stand down. But he's wanted to move into the private sector for a couple of years - and said as much to the Treasury's permanent secretary, Nick Macpherson, last summer.
Kingman felt unable to leave UKFI till it was properly established. That, in his view, is now done, with today's announcement that David Cooksey is to become chairman of UKFI.
Cooksey is a private-equity pioneer (he founded Advent and worked there for 25 years) who knows Gordon Brown well, but is not regarded as a ministerial patsy.
His first task will be to find a replacement for Kingman. Although Kingman himself worked at the Treasury for many years and was latterly the number two there, the successful candidate is unlikely to come from the public sector, since Kingman's financial skills are not widespread in Whitehall.
Kingman however is paid as a senior civil servant. Any private-sector replacement would receive many hundreds of thousand pounds more.
His departure is bound to be seen as part of a trend of individuals close to the prime minister who are leaving government and the public sector.