Chancellor appoints David Soanes and Niamh Moloney as members of the Prudential Regulation Committee

Chancellor of the Exchequer Rachel Reeves has today confirmed that David Soanes and Niamh Moloney will join the Prudential Regulation Committee (PRC). They will both serve three-year terms on the Committee, which takes the most important decisions of the Prudential Regulation Authority (PRA), one of the UK's financial regulators.

They replace Jill May and Julia Black who completed their second terms in July 2024 and November 2024 respectively.

David Soanes has been a career investment banker specialising in Financial Services, who has also sat on the board of UK Finance and the Leadership Council of The CityUK, and he is a former UK Country Head at UBS.

Niamh Moloney is Professor of Financial Markets Law in the Law School at the London School of Economics and Political Science and is an Independent Non-Executive Director of the board of the Central Bank of Ireland. She specialises in financial regulation, institutional structures and supervision.

Rachel Reeves, Chancellor of the Exchequer said:

I am pleased to announce the appointments of David Soanes and Niamh Maloney to the Prudential Regulation Committee of the Bank of England.

Both appointments will bring extensive experience of financial services to the role, and will support the regulators renewed focus on growth.

Andrew Bailey, Governor of the Bank of England said:

I am very pleased to welcome David Soanes and Niamh Moloney to the Prudential Regulation Committee. Between them they bring a great deal of experience and expertise to the role, and the committee's work will benefit greatly from their insight.