Sam Woods Reappointed as Deputy Governor of the Bank of England

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).  His second tenure lasts five years to 30 June 2026.

As the Bank’s Deputy Governor for Prudential Regulation, Sam is entrusted with tasks of the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. Also, 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.

Sam has served as Deputy Governor for Prudential Regulation since 30 June 2016. Before he was 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. Besides, He has served as Director for Financial Stability Strategy and Risk, and Director for Domestic UK Banks Supervision. Prior to the FSA/Bank, he spent ten years at HM Treasury in a variety of roles.

The Chancellor of Exchequer, Rishi Sunak commented: “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.”