An overspeed brake system for use in an elevator powerhead is provided. A brake rotor is attachable to a cable drum to rotate with a cable drum. A brake member selectively engages the brake rotor upon transition of an actuation lever from a first position to a second position. A biasing member acts on the actuation lever to bias the actuation lever from the first position towards the second position. A latch arrangement has a first orientation maintaining the actuation lever in the first position and a second orientation releasing the actuation lever for transitioning from the first position to the second position. The latch arrangement transitions from the first orientation to the second orientation when a speed sensing arrangement senses that the rotational speed of the cable drum is at least a predetermined rotational speed.