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March 31, 2013 11:06 pm
Lord Turner, outgoing City regulator, has landed a job at a research group co-founded by George Soros, billionaire philanthropist.
The chairman of the Financial Services Authority, which is being disbanded under reforms taking effect on Monday, is to join the Institute for New Economic Thinking as a senior fellow.
“In the wake of the financial crisis, economics must address fundamental issues and ask questions about its own per-crisis failures,” he said, in a statement on Sunday, adding that the institution played a “major role” in supporting “new approaches”.
Lord Turner, who applied to be the next Bank of England governor, is not expected to take on many other such roles in the short term, telling friends that he would like to write anbook on the financial crisis instead.
The not-for-profit Institute for New Economic Thinking is based in New York, but Lord Turner will be based in London in the full-time role.
Lord Turner is to work on research and also on a project the institute is conducting on the architecture of the financial system.
He will join about 40 economists on its advisory board.
The FSA is being split into the Financial Conduct Authority and the Prudential Regulation Authority.
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