The UK government has appointed Katharine Braddick, a former regulator and current Barclays executive, as the new deputy governor at the Bank of England for prudential regulation. This move is part of efforts to rejuvenate Britain’s economic growth, which has been sluggish, amid concerns regarding regulatory impacts on businesses.
Braddick’s extensive experience includes roles at the Financial Services Authority, the Bank of England, and the finance ministry, before joining Barclays as group head of strategic policy in 2022. Her appointment has been praised by finance minister Rachel Reeves, who describes Braddick as an accomplished pro-business leader.
Braddick will fill the vacancy left by Sam Woods on July 1, with a five-year term ahead. The City of London Corporation and Bank of England have welcomed her appointment, emphasizing her role during regulatory reforms and global competition. Meanwhile, measures are in place to manage potential conflicts of interest due to her previous role at Barclays.
(With inputs from agencies.)