Katharine Braddick will succeed Sam Woods when his term concludes in June 2026 as the next Deputy Governor for Prudential Regulation and Chief Executive of the Prudential Regulation Authority (PRA). The role carries direct responsibility for supervising banks, building societies, insurers and major investment firms. The role is also charged with shaping how prudential standards evolve in a more explicitly growth-oriented policy climate.
Braddick arrives from Barclays, where she serves as Group Head of Strategic Policy and senior adviser to the CEO. Her background spans both the private sector and senior public service, including time at HM Treasury as Director of Financial Services with responsibility for international and European dossiers. That combination—City practitioner and policy architect—is likely to shape expectations of how the PRA balances resilience with competitiveness.
The appointment signals that regulators are expected to be “robust on resilience and ambitious on growth”, reflecting Chancellor Rachel Reeves’s remit to support investment, lending and innovation while maintaining standards. In practice, this builds on a series of measures already advanced by the PRA including the removal of 37 reporting templates — a change projected to save firms around £26 million annually.
Chancellor Reeves described Braddick as “an accomplished pro-business leader with the experience to keep our financial system safe while backing the investment and lending that drives growth,” adding that “She understands the City and regulation and will help ensure the UK remains one of the best places in the world to do business.” Reeves also acknowledged Woods’ tenure, stating: “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.”
Bank of England Governor Andrew Bailey struck a similar tone, saying: “I am very happy to welcome Katharine Braddick back to the Bank as Deputy Governor for Prudential Regulation.” He noted that “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.” He also thanked Woods “for his many years of hard work at the PRA”.
Braddick will take up the role on 1 July for a five-year term. As Deputy Governor for Prudential Regulation, she will sit on the Prudential Regulation Committee, the Financial Policy Committee and the Court of the Bank of England, positioning her at the centre of both micro-prudential supervision and macro-prudential policy deliberation.
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