ABI shake-up sparks Vipond exit

ABI financial regulation and taxation director Peter Vipond has left the organisation as part of a wide-ranging shake-up of its senior management.

Vipond, who has been with the association for 9 years, left at the end of August. His post is not being replaced, but his responsibilities for financial regulation are being divided to mirror the splitting up of the FSA into two new bodies, the Financial Conduct Authority and the Prudential Regulation Authority.

Hugh Savill has been appointed director of prudential regulation and taxation, shadowing the PRA. Savill was head of public affairs until last year when he was appointed interim director of investment affairs following the departure of Peter Montagnon.

In the new post of director of financial conduct and consumer strategy, Maggie Craig’s portfolio will mirror that of the FCA. Craig will also continue to oversee her existing responsibilities for life insurance & savings on an interim basis and she keeps her job as the ABI’s Scottish director.

Nick Starling retains his existing responsibilities as director of general insurance.

An ABI spokesperson said: “We have made some changes to the ABI executive team to make sure we have a team in place to focus effectively on the big challenges facing industry and deliver for our members. This has meant some changes to our structure which will now mirror the new regulatory structure in the UK, and reflect increasing importance of Europe.

“There will be a team to cover the work of the Prudential Regulatory Authority and European regulation led by Hugh Savill. Maggie Craig will lead a team focused on the work of the Financial Conduct Authority and consumers. These changes give us the right people in the right structure to take the work of the ABI forward at this crucial time.”