The inspector general and chief executive of the Insolvency Service (IS) Stephen Speed has confirmed he will leave the agency.
Speed – who has been at the IS for more than four years – will become the director of the Energy Development Unit at the Department for Energy.
A statement released from the IS confirmed Speed will be leaving in “due course”.
In a letter sent to staff, Speed wrote: “During the last four and a half years at the IS 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.”
The IS added the Department for Business Innovation and Skills will shortly launch a recruitment process to replace Speed.