Sam Woods to head Prudential Regulation Authority

Woods takes over from Andrew Bailey, the new head of the Financial Conduct Authority, on 1 July. Bailey was unable to leave his PRA position until a replacement was found. Tracey McDermott has been acting FCA chief executive since Martin Wheatley's departure in July last year. The Bank said Woods would continue in his current role as executive director of insurance until the end of June. As the Bank's deputy governor for prudential regulation, Woods will have specific responsibility for the prudential regulation and supervision of banks, building societies, credit unions, insurers ...