Haddrill will replace Paul Boyle as chief executive of the FRC and will be appointed as a member of the FRC Board.
FRC chair Sir Christopher Hogg says: “Stephen has demonstrated his commitment to promoting high standards of corporate reporting and governance in senior roles in Whitehall and as a regulator. His experience as director-general of the Association of British Insurers will also enable him to bring a strong investor perspective to the work of the FRC.
“I look forward to working with him to build on Paul’s achievements in creating strong and effective synergies between the FRC’s work in relation to corporate governance, corporate reporting, auditing, actuarial practice and professional oversight.”
Haddrill says: “I am delighted to have the opportunity to join the FRC. The financial crisis has raised important questions about the future of accounting and governance. I look forward to ensuring that the FRC finds the right answers, bringing in reform where necessary whilst preserving a market-based system of governance.”
A spokesperson for the ABI says the board will start the recruitment process to replace Haddrill as soon as possible.