Braddick to lead UK banking supervision at Bank of England
Katharine Braddick CB has been appointed as the next Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority (PRA). She will succeed Sam Woods on July 1, 2026, for a five-year term.
Experience for a dual mandate
Katharine Braddick brings a unique blend of private sector banking experience and senior regulatory leadership to her new role as Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the PRA.
Currently Group Head of Strategic Policy at Barclays, she has a proven track record of delivering reforms that support financial stability and a competitive UK economy.
Her mandate includes leading the PRA's supervision and regulation of banks, building societies, insurers, and major investment firms.
She will also sit on key committees such as the Prudential Regulation Committee and the Financial Policy Committee, contributing to the Bank's statutory objectives.
Her significant international expertise from HM Treasury is expected to bolster the PRA's work with global partners and enhance the UK's competitiveness in the financial sector.
Balancing stability with growth
The appointment reflects the government's expectation for UK regulators to be robust on resilience and ambitious on growth, supporting investment, lending, and innovation.
The PRA has already demonstrated this by unlocking up to 36,000 additional high loan-to-income mortgages and implementing a 'Strong and Simple' regime for smaller UK banks.
Reforms have also lowered capital requirements for lending to SMEs and infrastructure.
Chancellor Rachel Reeves highlighted Braddick's understanding of the City and regulation, crucial for the UK's global business standing.
Governor Andrew Bailey welcomed her 'vast experience' from both public and private sectors, expressing confidence in her leadership to maintain strong regulatory foundations.
A strategic choice for a dynamic era
This appointment represents a strategic move to reinforce the UK's dual regulatory mandate of financial stability and economic competitiveness.
Braddick's blend of private sector insight and regulatory experience positions her uniquely to navigate the complex challenges ahead.
Her leadership will likely focus on practical reforms that foster growth without compromising the prudential strength of the financial system.