Paul Sharma, deputy head of the Prudential Regulation Authority (PRA) and executive director of policy at Bank of England, has decided to leave the firm after 20 years as regulator.
According to Bank of England, Sharma will join Alvarez & Marsal consulting firm as co-head of regulatory practice.
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Prior to the creation of the PRA, Sharma served as director of Prudential Policy at the Financial Services Authority which he joined in 1999.
Andrew Bailey, deputy governor for Prudential Regulation and CEO of the PRA, said: "Sharma has provided an enormously valuable contribution to public service in his twenty years as a regulator. As executive director of policy, Sharma has played a vital role in delivering the PRA’s policy objectives at global, European and domestic level across a wide ranging of banking and insurance issues.
"In particular I would like to thank Sharma for the role that he has played in helping to reform both the domestic and international regulatory landscape since the financial crisis. He has made a huge contribution in helping to set up and embed a judgement based approach to the prudential regulation of Banks and Insurance firms as part of the PRA and can be proud of his achievements," Bailey added.
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