The PRA is the statutory regulator that supervises most major banks, insurers and major investment firms with sister body the FCA supervising other regulated firms.
The three new appointees joining the PRC as external members are John Taylor, Antony Jenkins and Tanya Castell:
• John Taylor has worked in insurance, pensions and wealth management for many years. He has held senior positions including at Standard Life, Lloyds Banking Group, and NEST, and was most recently was President at the Institute and Faculty of Actuaries.
• Antony Jenkins was previously chief executive of Barclays and is currently a member of the board of US mortgage body Fannie Mae and executive chairman and founder of start-up 10x Future Technologies.
• Tanya Castell is an experienced non-executive director and has served on many boards and committees, most recently at Handelsbanken. She has held a number of senior positions including at Lloyds Banking Group and UBS.
John Taylor will start on 14 January and Antony Jenkins on 5 April 2021. They will fill positions created by the departures of Sandra Boss and Mark Yallop. Tanya Castell will start in her post on 1 September, filling the vacancy created by the end of David Belsham’s appointment on 30 April 2021. All appointees will serve three-year terms.
Governor of the Bank of England, Andrew Bailey, former chief executive of the FCA, said: “I am pleased to welcome John, Antony and Tanya to the Prudential Regulation Committee. They bring with them a wealth of experience in banking and insurance and will make a valuable contribution to the work of the Committee. I look forward to working with them in the coming years.”
The Prudential Regulation Committee takes the most important decisions for the Prudential Regulation Authority which supervises banks, insurers and major investment firms. The PRC is chaired by the Governor of the Bank of England.
Five members of the PRC are Bank of England staff, including the Governor and four Deputy Governors. The Prudential Regulation Committee has a majority of external members, including the chief executive of the Financial Conduct Authority and six others selected for their “experience and expertise in financial services.”
PRC members from 1 September 2021 will be:
- Andrew Bailey (Governor)
- Sam Woods (Deputy Governor, Prudential Regulation & Chief Executive of the Prudential Regulation Authority)
- Sir Jon Cunliffe (Deputy Governor, Financial Stability)
- Dr Ben Broadbent (Deputy Governor, Monetary Policy)
- Sir Dave Ramsden (Deputy Governor, Markets and Banking)
- Nikhil Rathi (Chief Executive, Financial Conduct Authority)
- Julia Black (External member)
- Norval Bryson (External member)
- Tanya Castell (External member)
- Antony Jenkins (External member)
- Jill May (External member)
- John Taylor (External member