Ex-FCA regulator Adamson to join Prudential

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Industry whispers suggest that Clive Adamson, who left the Financial Conduct Authority (FCA) late last year, is to join finance and insurance services giant Prudential.

Adamson, who is believed to have quit the regulatory body following clashes with its divisive chief Martin Wheatley, is a respected figure in the financial services world.

His reputation has remained intact despite being implicated in the furore surrounding a disastrous press briefing, during which internal figures relating to the insurance industry were accidentally released to the media.

Adamson was quoted in the Daily Telegraph as saying that 30m policies from the past few decades would be reviewed and exit fees could be scrapped, causing chaos in the stock market as insurance firms’ shares took a £6 billion tumble.

Although Andrew Tyrie, chairman of the Treasury select committee, described the release as “extraordinary blunder,” one year on all seems to be forgiven.

Commenting on Adamson’s reputation, Tyrie said: “What I got bacdk was that he’s one of the best of them. He actually knows what’s going on in there and he’s a very tough regulator.

“He has a grasp of what it means from the other end, the business end.”