Bank of England director leaves

THE deputy head of the Prudential Regulation Authority (PRA) yesterday announced he is standing down after 20 years with the Bank of England to become joint-head of the regulatory practice at consultancy firm Alvarez & Marsal.

Paul Sharma, who is also executive director for policy at the Bank of England, said: “The past 20 years as a regulator have allowed me to experience a wide range of challenges and developments in global and domestic regulation across both banking and insurance.

“It has been a great privilege working at the Bank of England, but now is the time to seek a fresh challenge and I want to wish all of my colleagues the best for the future.”

Sharma’s previous posts have included spells with the Department of Trade & Industry and accountancy firm Ernst & Young.