- Katharine Braddick CB 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 when his term ends in June 2026
- Katharine brings deep City, regulatory and
policy expertise to keep the UK safe and open for
investment, and to support growth and competitiveness.
- The appointment builds on momentum already delivered by
the PRA to support lending and reduce burdens on businesses,
including supporting more high loan-to-income
mortgages to help more people get on the housing
ladder and reforming capital rules to
support SME and infrastructure lending
His Majesty The King and the Chancellor have appointed Katharine
Braddick CB as the next Deputy Governor for
Prudential Regulation at the Bank of England and Chief Executive
of the PRA.
Katharine 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.
This appointment underlines the government's expectation that the
UK's regulators are robust on resilience and ambitious
on growth — acting on the
Chancellor's recommendations in her remit
letter to regulate in a way that supports investment,
lending and innovation while maintaining high
standards.
The PRA has already taken concrete steps to deliver that
approach: unlocking up to 36,000 additional high loan-to-income
mortgages for first-time buyers, implementing a “Strong and
Simple” regime to cut unnecessary burdens for smaller UK banks,
and reforming rules to lower capital requirements for lending to
SMEs and infrastructure, while pushing ahead with the Future
Banking Data initiative to remove 37 reporting templates — saving
firms around £26 million a year.
Chancellor of the Exchequer, , 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.
His Majesty The King has approved this
appointment. Katharine will take up the role on 1 July, for
a term of five years, succeeding Sam Woods, who has served as
Deputy Governor for Prudential Regulation since 2016.
As Deputy Governor for Prudential Regulation, Katharine will lead
the PRA's work to supervise and regulate banks, building
societies, insurers and major investment firms, and will sit on
the Prudential Regulation Committee, the Financial Policy
Committee, and the Court of the Bank of England, as part of the
executive team delivering the Bank's statutory
objectives.
Katharine also brings significant international experience,
having served at HM Treasury as Director of Financial Services
leading on international and European issues.
This expertise that will support the PRA's work with
international partners and the UK's competitiveness.
The appointment followed a fair and open competition in line with
the Governance Code on Public Appointments and is subject to
pre-commencement scrutiny by the Treasury Select Committee.
More information
- The Deputy Governor for Prudential Regulation is appointed by
His Majesty The King, on the recommendation of the Prime Minister
and the Chancellor of the Exchequer.
