The UK's Chancellor of the Exchequer George Osborne has appointed Andrew Bailey to lead the Financial Conduct Authority (FCA).
Bailey will temporarily stay on at fellow regulator the Prudential Regulation Authority (PRA), where he has been CEO and a deputy governor on the Bank of England’s overarching board, until replacements are found.
In a tweet this morning, Osborne announced Bailey’s appointment as “a key next step in establishing
In his new job at the supervisor, Bailey will also be a member of the PRA board and the Bank of England’s Financial Policy Committee.
Bailey takes the reins from Tracey McDermott, who has been acting CEO of the FCA since July 2015, replacing Martin Wheatley in the role.
Osborne tweeted: “Delighted to announce Andrew Bailey will lead