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

Sam Woods re-appointed BoE deputy governor
Sam Woods re-appointed BoE deputy governor   -   Copyright  Thomson Reuters 2021
By 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.