UK Names Katharine Braddick as Bank of England Deputy Governor for Prudential Regulation

The UK government has appointed Katharine Braddick as the next Deputy Governor for Prudential Regulation at the Bank of England, placing her in charge of supervising the country’s banking and insurance sector at a time of heightened economic and regulatory focus.

Braddick will also serve as chief executive of the Prudential Regulation Authority, the arm of the central bank responsible for overseeing banks, building societies, insurers and major investment firms. She will take up the role on July 1 for a five year term, succeeding Sam Woods.

The appointment was confirmed by the Treasury, with Chancellor Rachel Reeves describing Braddick as an accomplished pro business leader who combines regulatory expertise with a clear understanding of the City of London. Reeves said the government expects regulators to be robust on financial resilience while also supporting growth, investment and innovation across the UK economy.

The Prudential Regulation Authority plays a critical role in safeguarding financial stability. It sets capital and liquidity requirements for institutions and monitors risks that could threaten the wider financial system. The deputy governor for prudential regulation is one of the most senior positions at the Bank of England and sits on key policy committees, including those responsible for financial stability decisions.

Braddick brings experience from both the private and public sectors. She has worked at Barclays since 2022 and previously held senior roles at HM Treasury, the former Financial Services Authority and the Association of British Insurers. Her background spans banking policy, financial supervision and industry representation, giving her insight into both regulatory frameworks and market realities.

The government said her appointment reflects expectations that UK regulators should maintain high standards while also ensuring that rules support competitiveness. In recent months, ministers have emphasised the need for Britain’s regulatory system to remain attractive to global financial firms, particularly as London competes with other international financial centres.

The UK financial sector has faced significant change since Brexit, with ongoing adjustments to rulemaking powers that have shifted from European institutions back to domestic authorities. At the same time, regulators are dealing with emerging risks including climate related exposures, digital assets and evolving global capital standards.

Braddick’s leadership at the Prudential Regulation Authority will coincide with a period in which banks are navigating tighter capital requirements and economic uncertainty, while insurers and investment firms adapt to changing risk models and market volatility. The role will require balancing strict oversight with the government’s push for economic growth.

Her appointment comes as the Bank of England continues to manage inflation pressures and assess the outlook for interest rates. While monetary policy decisions are handled separately, financial stability oversight remains closely linked to broader economic conditions, making the deputy governor’s position central to the overall health of the UK financial system.