Former Brit chairman to ‘pursue future outside regulation’

Nick Prettejohn has resigned from the Prudential Regulation Authority after just nine months as an external board member.

The Bank of England said it has already begun to search for a replacement with similar insurance experience.

Bank of England governor and PRA chairman Mark Carney said: “I want to thank Nick for all of his insights and advice since he joined the PRA Board. We have benefited tremendously from his wealth of knowledge and experience. I want to wish him the very best for the future.”

Prettejohn resigned to “pursue a future outside regulation”, the PRA said.

The former Lloyd’s chief executive stepped down as the chairman of Brit and from the board of L&G to take up his post at the PRA in June.