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Further education is losing one of its key figures to the art world. Sir William Stubbs, chief executive of the Further Education Funding Council for England, has been appointed as rector of the London Institute from September.

He succeeds John McKenzie, who has been rector since the institute's formation in 1986.

Sir William was appointed to the FEFCE in 1992, after four years as chief executive of the Polytechnics and Colleges Funding Council and six years as chief executive of the Inner London Education Authority.

The move to the London Institute means a return to the institution he took a hand in developing during his time at ILEA, and a salary rise from Pounds 95,000 to Pounds 125,000.

Professor McKenzie announced his decision to retire in May but has since been asked by the institute's governors to take up a new role as director of international developments. He said: "Bill Stubbs was instrumental in the inception of the London Institute and encouraged me to become its first rector. He has since taken a keen interest in our affairs."

Julian Markham, the institute's chairman, added: "Sir William's reputation as a financial and strategic manager in the education field speaks for itself and we are certain that he will contribute significantly to our future development."