Corporations Commissioner Franklin Tom, 45, will leave his job this Friday as chief regulator of California industrial loan companies to return to private law practice in Los Angeles, the governor's office said Monday.
No immediate replacement was announced by Gov. George Deukmejian.
Since his appointment in 1983, Tom has overseen the state takeover of such failed companies as Western Community MoneyCenter in Walnut Creek, the fourth-largest industrial loan company among 43 in the state.
Tom was a partner in the law firm of Parker, Milliken, Clark & O'Hara before taking the Sacramento appointment.