PRA appoints new governor
By Tom BelgerHM Treasury has announced the appointment of Sam Woods as Deputy Governor for Prudential Regulation and Chief Executive of the Prudential Regulation Authority (PRA)
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He will take up the role on 1st July 2016 having secured the Queen’s agreement following a recommendation by the Chancellor and the Prime Minister.
Mr Woods will succeed Andrew Bailey who is stepping down at the end of June.
He will have specific responsibility for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.
“I am absolutely delighted and very honoured to be taking on the deputy governor role,” said Mr Woods.
“The PRA has made a strong start as a prudential regulator under Andrew Bailey’s leadership and I look forward to continuing our work with the aim of promoting safety and soundness, protection of policyholders and financial stability more broadly.”
Mark Carney, Governor of the Bank of England, said he was delighted that Mr Woods had been appointed, calling him a dedicated public servant, a forward-looking policy maker and a natural leader.
“His broad experience and personal qualities will be vital in building on Andrew Bailey’s extraordinary contributions since the creation of the PRA in 2013,” said Mr Carney.
“My colleagues and I look forward to working closely with Sam as the Bank of England continues its important mission of promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.”
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Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/pra-appoints-new-governor