BoE's Andrew Bailey appointed new FCA chief

Set to take over from Tracey McDermott in July

Anna Fedorova
clock • 2 min read

Andrew Bailey, deputy governor for prudential regulation at the Bank of England and CEO of the Prudential Regulation Authority, is replacing Tracey McDermott as the new chief executive of the Financial Conduct Authority (FCA).

Bailey, who has been at the Bank of England for 30 years, is due to join the FCA in July. Bailey (pictured) will continue in his role as deputy governor and PRA CEO, including his international commitments, until his departure from the Bank. In his new role as CEO of the FCA, Bailey will also be a member of the PRA board and the Financial Policy Committee. FCA chairman John Griffith-Jones said: "He brings unrivalled regulatory experience, a proven track record and an excellent reputation in the UK and internationally. "Having been an FCA board member since 2013 he has been fully...

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