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PRA chief Sam Woods reappointed for second term

As part of his role, Woods has specific responsibility for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms

Sam Woods has been reappointed by Her Majesty the Queen as deputy governor of the Bank of England with responsibility for prudential regulation, and chief executive of the Prudential Regulation Authority (PRA). 

As part of his role, Woods has specific responsibility for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.

He sits on the Bank’s court of directors, the financial policy committee, the prudential regulation committee, and the board of the financial conduct authority.

Woods has served as deputy governor for prudential regulation since 30 June 2016. He was previously the executive director of insurance supervision at the PRA. He joined the Financial Services Authority (FSA) in 2011 and transferred with it to the Bank in 2013.

He has served as director for financial stability strategy and risk, and director for domestic UK banks supervision. 

Before joining the FSA/Bank, he spent ten years at HM Treasury in a variety of roles, including secretary, independent commission on banking, 2010 to 2011 and COO of UK financial investments, 2008 to 2010.

Prior to joining HM Treasury, Woods worked in the private sector from 1995 to 2001, for Diageo and McKinsey and Company.

Rishi Sunak, The Chancellor of Exchequer, said: “I am very pleased to announce the reappointment of Sam Woods. Sam continues to bring a vast amount of knowledge, skill and experience to the Bank. He has played a vital role in the response to the challenges posed during Covid-19 and will continue to do so.”

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