Nationwide Building Society has poached a senior executive at the Financial Conduct Authority to run its compliance department.
Nationwide, which has never before had a compliance chief, has raided the regulator for Julia Dunn, who will take up her new role in September, according to Sky News.
Dunn’s responsibilities at the watchdog included dealing with building societies’ conduct-related issues, among others.
The move comes amid news that Nationwide has secured an extension from the Prudential Regulation Authority to reach newly imposed capital requirements, following the discovery of a £400,000 black hole in its finances.
Dunn was the latest in a string of public to private defects, which included FCA acting retail director Christina Sinclair, who resigned from the regulator to join Barclays last week.
