PRA appoints new CEO

Katharine Braddick CB has appointed as the next Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority (PRA), succeeding Sam Woods, whose term ends in June 2026 and has served as Deputy Governor for Prudential Regulation since 2016.

Braddick brings a rare mix of private sector banking experience and senior regulatory leadership, with a track record of delivering reform that supports a stable financial system and a competitive UK economy. She currently works at Barclays as Group Head of Strategic Policy and senior adviser to the CEO.

Chancellor of the Exchequer, Rachel Reeves, said “Katharine Braddick is an accomplished pro-business leader with the experience to keep our financial system safe while backing the investment and lending that drives growth.

“She understands the City and regulation, and will help ensure the UK remains one of the best places in the world to do business.

“I want to thank Sam Woods for his dedicated service and the strength he has brought to the UK’s prudential regime. Katharine will build on that record — keeping standards high while driving a competitive, growth-focused approach to regulation.”

Andrew Bailey, Governor of the Bank of England, said “I am very happy to welcome Katharine Braddick back to the Bank as Deputy Governor for Prudential Regulation. Katharine has vast experience both in the public and private sectors, and I am confident that she will lead the PRA with great ambition and skill, maintaining strong regulatory foundations to underpin a growing financial sector and a thriving economy.

“I would like to thank Sam for his many years of hard work at the PRA, and wish him all the best in his future endeavours.”

Braddick will take up the role on 1st  July, for a term of five years.