Thorburn steps down from Prudential Regulation Committee

Thorburn has resigned from the PRC with a view to returning to the private sector. A HM Treasury process to identify a successor has already started.

The Governor said: "I would like to thank David for the many great contributions he has made to the PRC’s work. We have all benefited from his tremendous practical knowledge of retail banking. I wish him every success in the future."

David Thorburn said:

"It has been a privilege to serve alongside my colleagues, first on the PRA Board and then the PRC, during the final stages of implementing the post-crisis reforms in banking and insurance. I am confident that the PRA’s forward looking, judgement based approach focussed on the key risks is the right one. I have greatly enjoyed playing my part in putting that approach into practice.”