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Ex-Prudential executive to join the FSA

LONG-time Prudential executive Tom Boardman has agreed to join the Financial Services Authority (FSA) as a senior adviser, responsible for overseeing life insurance regulation.

Boardman until recently held the position of director of retirement strategy and innovation at the Pru.

And in March this year, he was named to step up as a board director of the National Employment Savings Trust (NEST) Corporation – set up by the previous government to agree investment principles for personal pension schemes.

Hector Sants, the FSA’s chief executive, said: “[Boardman] has considerable experience to bring to bear on the regulatory changes and issues that we face in the insurance sector.”

The top-level appointment comes just days after the FSA was dealt a blow by head of risk Sally Dewar, who ruled herself out of the running for Sants’ job when he leaves later in the year.

The regulator is currently hanging on tenterhooks waiting for a final decision on its fate from the coalition government. Chancellor George Osborne had originally signalled on entering government that he might revoke the Tories’ pledge to abolish the FSA, though he is now widely expected to transfer the bulk of the regulator’s powers over to the Bank of England.