Government initiates hunt for new leader of bank regulatory agency
Preparations are underway for the search of a new leader at the Prudential Regulation Authority (PRA), one of the world's top banking regulatory bodies. According to unidentified sources, plans are being formulated to announce a new Chief Executive to take over from Sam Woods next year. The official recruitment process isn't anticipated to start until after the summer.
With Sam Woods set to complete his second term in June 2023, the position is likely to attract top-tier regulatory figures from around the globe. This news follows the appointment of Nikhil Rathi to a consecutive five-year term as the CEO of the Financial Conduct Authority.
Currently, Sam Woods also serves as the Deputy Governor for Prudential Regulation, a member of the Bank of England's Court of Directors, and a director of the FCA. He initially became the CEO of the PRA after serving as its executive director of insurance.
As of now, the Treasury remains tight-lipped about the development, choosing not to comment on the matter. To stay updated on this and other exciting developments, make sure to download our application for free!
The impending departure of Sam Woods in June 2023, as the CEO of the Prudential Regulation Authority (PRA), has the potential to spark intense competition among top-tier regulatory figures within the global finance and business community. Given Sam Woods' current roles as the Deputy Governor for Prudential Regulation, a member of the Bank of England's Court of Directors, and a director of the FCA, the vacant position is expected to draw substantial interest from elite regulatory professionals worldwide.
