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Woods re-appointed as BoE's banking regulator ahead of post-Brexit reform

06/14/2021 | 08:43am EDT
FILE PHOTO: Britain's Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority Sam Woods speaks during the Bank of England's financial stability report at the Bank of England in the City of London

(Reuters) -Sam Woods has been reappointed as deputy governor of the Bank of England and as chief executive of the Prudential Regulation Authority, the UK Treasury said on Monday.

Woods, whose second five-year term at deputy governor will end on June 30, 2026, heads the BoE's arm that regulates banks and insurers.

His reappointment gives some continuity to the sector as Britain reviews its financial rules to underpin the City of London's global competitiveness after the UK's departure from the European Union.

"Sam has done an excellent job and his reappointment is important at a time when we are responding to the challenges of Covid and embarking on a significant period of regulatory reform," BoE Governor Andrew Bailey said in a statement.

(Reporting by Yadarisa Shabong in Bengaluru and Huw Jones in London; Editing by Kevin Liffey and Louise Heavens)

© Reuters 2021
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AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.10% 0.5352 Delayed Quote.-4.66%
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US DOLLAR / BRITISH POUND (USD/GBP) 0.19% 0.727484 Delayed Quote.-0.27%
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