Insovency Service’s CEO Stephen Speed steps down

THE INSOLVENCY SERVICE’S chief executive and inspector general Stephen Speed has stepped down.

Speed, who has been at the service for more than four years will now take on the role of director of the energy development unit in the government’s department for energy and climate change.

In a letter to staff today Speed said: “During the last four and a half years at The Insolvency Service, we have been on quite a journey together, from seeing the highest case numbers ever recorded by the Official Receiver and the Redundancy Payments Service in 2009-10, to the steepest and largest decline in bankruptcies on record.

“We’ve had to do lots of innovative and sometimes difficult things to make sure we stay on the pace. There is plenty more that The Service has yet to do, as you know. However, now is a good time for somebody new to tackle the exciting job of leading The Service through the next phase of its development”.

 A statement from the Insolvency Service said: “BIS [The Department for Business Innovation and Skills] will very shortly launch a competition across the Civil Service to recruit a successor.”

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