Andrew Bailey, the Chief Executive Office of the Prudential Regulation Authority and Deputy Governor (Prudential Regulation) of the Bank of England, delivered a speech today titled "Governance and the role of Boards": see here (pdf). A particular focus of the speech was the role of non-executive directors and their relationship with the executive. Mr Bailey said, with regard to the PRA's supervisory role, that the PRA would "always be cautious of Executives who seem to see Non-Executives as some form of threat; the really effective Executives are those who see their Non-Executive colleagues' experience and knowledge as a means of improving the effectiveness of the Board's judgment through constructive support and challenge".
Tuesday, 3 November 2015
UK: Governance and the role of Boards - a speech by Andrew Bailey
Andrew Bailey, the Chief Executive Office of the Prudential Regulation Authority and Deputy Governor (Prudential Regulation) of the Bank of England, delivered a speech today titled "Governance and the role of Boards": see here (pdf). A particular focus of the speech was the role of non-executive directors and their relationship with the executive. Mr Bailey said, with regard to the PRA's supervisory role, that the PRA would "always be cautious of Executives who seem to see Non-Executives as some form of threat; the really effective Executives are those who see their Non-Executive colleagues' experience and knowledge as a means of improving the effectiveness of the Board's judgment through constructive support and challenge".
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