Bank of England director leaves

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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.