Alistair Clark, who was an executive director at the Bank of England, is to move to the British Treasury to work as a senior adviser on financial stability issues.

Clark will spend two days a week at the Treasury. Tom Scholar, the second permanent secretary to the Treasury, said: "We will all benefit greatly from his experience and knowledge."

Clark worked at the Bank for 36 years, from 1971 to 2008. He served two stints as the executive director for financial stability, first from 1997 to 2003