General Insurance Article - Adams to leave Bank of England for Prudential

 The Bank of England has announced the departure of Julian Adams, the Bank’s executive director for Insurance Supervision.

 Adams has announced that, after 28 years as a regulator, he will be leaving the Bank to take up the role of Group Regulatory director at Prudential. He will begin his new post in early 2015, after his post-employment cooling off period expires. A recruitment process will begin shortly to find a successor. This position will be advertised externally as well as within the Bank. Until the appointment of Adams’s successor, Paul Fisher, deputy head of the PRA and executive director for Supervisory Risk Specialists and Regulatory Operations, will also act as executive director of the Insurance Directorate.

 Governor Mark Carney comments “Julian Adams has led a distinguished career in public service for over a quarter century, and I thank him for his significant contributions to this institution and the global regulatory community more broadly. He has been instrumental in leading the Bank of England’s Insurance Division through the transition to the new regulatory regime and has tirelessly built links internationally, to great benefit for the Bank and the UK insurance sector. He has also built, and leaves behind, a strong team committed to sound regulation of the UK insurance industry. I wish Julian the very best in his new role.”

 Adams said “I have had the privilege of working in the public service to maintain and improve the resilience of insurance firms in the UK. It has been an immensely challenging, yet rewarding experience, and I am proud of the work my colleagues and I have done to reform and improve the regulatory framework, both domestically and internationally. I now feel it is the time to seek a fresh path in my career, and the chance to take on a challenging new role at a major insurer provided that opportunity. I want to thank all of my dedicated colleagues at the Bank, and wish them the best."

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