BoE appoints insurance director

The Bank of England has appointed Sam Woods as executive director for insurance supervision.

Woods succeeds Julian Adams who departed in August 2014 to become group regulatory director at life insurer Prudential.

He will report to Andrew Bailey, the deputy governor, prudential regulation and chief executive officer of the Prudential Regulation Authority (PRA).

Woods joined the Financial Services Authority (FSA) in 2011 and transferred to the Bank in 2013 with the integration of the PRA. He most recently served as director for financial stability strategy and risk, and prior to that was director for domestic UK banks supervision.

Mark Carney, Governor of the Bank of England, said: "I am delighted to announce the appointments of Alex Brazier and Sam Woods. Each brings unique strengths and varied experience to their respective role. On behalf of the Bank’s senior management team, I look forward to working closely with both of them as we continue to transform the Bank and fulfil our mission to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.

“I would also like to thank Sam for his leadership of FSSR over the past six months and Alex for his wise counsel and extraordinary support as my Private Secretary over the past year and a half.”