Bank of England’s top insurance official quits to join the Prudential
TOP INSURANCE regulator Julian Adams yesterday quit his job at the Bank of England to join the private sector.
The executive director for insurance supervision is joining Prudential as group regulatory director.
He takes up the job in early 2015, after a cooling-off period.
Adams’ departure comes just two days after Spencer Dale, the Bank’s head of financial stability, strategy and risk quit to become chief economist at BP.
Both follow a long tradition of top regulators taking well-paid roles in the private sector.
Adams used to work at the Financial Services Authority, and his former boss, Hector Sants, left to head compliance at Barclays.
It also follows a period of major institutional change at the Bank, with governor Mark Carney appointing two new deputy governors. No replacement for Adams has yet been lined up.
Carney thanked Adams for his “distinguished career in public service for over a quarter century”.