Julian Adams quit his job as head of insurance supervision at the Bank of England to join Prudential Plc., the second senior official to leave the central bank this week for a post in the private sector.
Adams will take up the role of group regulatory director at Prudential next year, the BOE said today. Paul Fisher, deputy head of the Prudential Regulation Authority, will take over his responsibilities until a replacement is found, it said.
His move follows the departure of Spencer Dale, who said on Aug. 4 that he is quitting his job as executive director for financial stability to join BP Plc. Dale was chief economist under Mervyn King before swapping jobs with Andrew Haldane in a shake-up of the BOE’s management by Governor Mark Carney.
“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,” Adams said. “I want to thank all of my dedicated colleagues at the bank, and wish them the best.”
Prudential is the U.K.’s largest insurer by market value.