BoE appoints successor for PRA head Bailey

New deputy governor of central bank

The Bank of England has appointed Sam Woods as the new deputy governor and chief executive of the Prudential Regulatory Authority (PRA).

Woods (pictured) will succeed Andrew Bailey who is leaving to become chief executive of the Financial Conduct Authority. He will start his new role on 1 July, initially for five years, and will also become deputy governor of the Bank of England under governor Mark Carney. Woods currently works as executive director of insurance for the PRA and previously worked at the former Financial Services Authority, as well as HM Treasury. His new responsibilities will include the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment f...