Sam Woods has been appointed for a second five-year term until June 30, 2026.
As the Bank’s Deputy Governor for Prudential Regulation, Sam Woods is specifically responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and large investment firms.
He sits on the Bank’s Administrative Court, the Financial Policy Committee, the Prudential Regulation Committee and the Board of Directors of the Financial Conduct Authority.
Chancellor of the Exchequer, Rishi Sunak said:
I am very happy to announce the reappointment of Sam Woods. Sam continues to bring a great deal of knowledge, skills and experience to the Bank. It played a vital role in responding to the challenges posed during Covid-19 and will continue to do so.
Bank of England Governor Andrew Bailey said:
I am delighted that Sam is serving a second term as Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority. Sam has done a great job and his reappointment is important at a time when we are responding to the challenges of Covid and entering an important period of regulatory reform. I can’t wait to continue working with him.
About the meeting
The Bank of England is the central bank of the United Kingdom. It is governed by a board of directors known as the Administrative Court. Further information can be found on Bank of England website.
Members of the Court are appointed by the Queen on the recommendation of the Prime Minister and the Chancellor of the Exchequer.
All appointments are made on merit and political activity plays no role in the appointment process.
About Sam Woods
Sam Woods has been Deputy Governor of Prudential Regulation since June 30, 2016. He was previously Executive Director of Insurance Supervision at PRA. He joined the Financial Services Authority (FSA) in 2011 and transferred with it to the Bank in 2013.
He was Director of Financial Stability and Risk Strategy and Director of National Bank Supervision in the UK. Prior to joining FSA / Bank, he spent ten years at HM Treasury in various roles including Secretary of the Independent Banking Commission from 2010-2011 and COO of UK Financial Investments from 2008-2010.
Prior to joining HM Treasury, Sam worked in the private sector from 1995 to 2001, for Diageo and McKinsey and Company.