Andrew Bailey has been named as the chief executive of the Prudential Regulation Authority (PRA).
The Treasury confirmed Bailey has been appointed as deputy governor of the Bank of England with responsibility for prudential regulation, starting on 1 April. Chancellor George Osborne said: "Andrew Bailey has the right skills and experience to lead the PRA as it moves into the new era of judgement-led supervision. "Putting the Bank of England in charge of prudential regulation is at the heart of the government's reforms to regulation of financial services." He added the PRA would be a tough, forward-looking regulator focused on the stability of banks and insurers. Bailey will a...
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