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Former FCA exec Clive Adamson joins Pru

9 Mar 15

The Financial Conduct Authority’s former director of supervision, Clive Adamson, is to join Prudential’s UK business, according to media reports.

The Financial Conduct Authority’s former director of supervision, Clive Adamson, is to join Prudential’s UK business, according to media reports.

Adamson, who stepped down from his position at the UK’s financial watchdog towards the end of last year, is said to be joining the financial services group in a non-executive role.
 
The former director left the FCA prior to the release of a report into its conduct over an inquiry into UK pension policies. Following the scathing report, which claimed insurance providers had been allowed to treat customers unfairly, the body said it would shape a strategy to sharpen its focus on how firms are regulated.
 
The authority said Adamson’s departure – along with fellow executive committee members Zitah McMillan and Victoria Raffe – was tied in with its structural changes.
 
A number of FCA executives, including Adamson and FCA chief Martin Wheatley, lost their bonuses in December 2014 after a botched press briefing caused a sharp slide in insurance companies’ share prices.
 
Prudential has declined to comment about the potential hire of Adamson.
 

Tags: FCA | Prudential | UK Adviser

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.