Braddick to lead UK banking watchdog with £2bn overhaul

Katharine Braddick 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), succeeding Sam Woods. Her term begins on July 1, 2026, and will last for five years. Braddick, who currently works at Barclays as Group Head of Strategic Policy, brings extensive experience in the financial sector, regulation, and policy. The appointment signals the government's expectation for regulators to be robust on resilience and ambitious on growth, supporting investment, lending, and innovation while maintaining high standards. The PRA has already initiated reforms, including unlocking additional high loan-to-income mortgages, implementing a simplified regime for smaller banks, and reforming capital rules for SME and infrastructure lending.