Haddrill to quit ABI

ABI director general Stephen Haddrill is to quit the trade body in November to join the Financial Reporting Council.

Haddrill is set to replace Paul Boyle as chief executive of the FRC and will be appointed as a member of the FRC Board.

Haddrill said: “I am delighted to have the opportunity to join the FRC. The financial crisis has raised important questions about the future of accounting and governance. I look forward to ensuring that the FRC finds the right answers, bringing in reform where necessary whilst preserving a market-based system of governance.”

Sir Christopher Hogg, chairmain of the FRC, said: “It gives me great pleasure to announce that Stephen Haddrill will be Paul Boyle’s successor as chief executive of the FRC.

"Stephen has demonstrated his commitment to promoting high standards of corporate reporting and governance in senior roles in Whitehall and as a regulator. His experience as Director-General of the Association of British Insurers will also enable him to bring a strong investor perspective to the work of the FRC.

" I look forward to working with him to build on Paul’s achievements in creating strong and effective synergies between the FRC’s work in relation to corporate governance, corporate reporting, auditing, actuarial practice and professional oversight.”

The current Chief Executive, Paul Boyle, said: “I very much welcome Stephen Haddrill’s appointment as my successor and wish him well in his new role. I will be working with Stephen to ensure that there is a smooth hand-over of responsibilities.”