Andrew Bailey (banker)

Andrew Bailey
Chief Executive Officer of the Financial Conduct Authority
Assumed office
1 July 2016
Preceded by Tracey McDermott
Deputy Governor of the Bank of England for Prudential Regulation
In office
1 April 2013 – 1 July 2016
Governor Mark Carney
Preceded by Office Created
Succeeded by Sam Woods
Chief Cashier of the Bank of England
In office
1 January 2004 – 1 April 2011
Governor Mervyn King
Preceded by Merlyn Lowther
Succeeded by Chris Salmon
Personal details
Born (1959-03-30) 30 March 1959
Leicester
Spouse(s) Cheryl Schonhardt-Bailey
Children 2
Alma mater Queens' College, Cambridge
Occupation Central banker

Andrew John Bailey (born 30 March 1959) is a British central banker, who was Deputy Governor of the Bank of England from April 2013 to July 2016. He had previously served as the Bank's Chief Cashier from January 2004 until April 2011. He is currently the Chief Executive Officer of the Financial Conduct Authority.[1][1][2]

Education

Bailey attended Wyggeston Boys' Grammar School, Leicester from where he went to Queens' College, Cambridge, where he gained a BA in History and a PhD.

Career

After university, Bailey became a research officer at the London School of Economics, before joining the Bank of England in 1985.

He has worked at the Bank in a number of areas, most recently as Executive Director for Banking Services and as Chief Cashier, as well as Head of the Bank’s Special Resolution Unit (SRU). Previous roles include Governor’s Private Secretary, and Head of the International Economic Analysis Division in Monetary Analysis.

Since the onset of the financial crisis in August 2007 and until April 2011, Bailey was responsible for the Bank’s special operations to resolve problems in the banking sector, and in 2009 was Chairman and Chief Executive of Dunfermline Building Society Bridge Bank Ltd.

On 1 April 2013 Bailey became the Chief Executive of the new Prudential Regulation Authority[1] and the first Deputy Governor of the Bank of England for Prudential Regulation.

On 26 January 2016, it was announced that Andrew Bailey will take over as CEO of the UK Financial Conduct Authority.[3] He replaced Tracey McDermott, who became acting CEO after Martin Wheatley resigned following a vote of no confidence by George Osborne in July 2015.[4]

References

  1. 1 2 3 About the Bank | People | Andrew Bailey – Executive Director and Head of the Prudential Business Unit. Bank of England. Retrieved on 2012-04-28.
  2. ↑ "Andrew Bailey". FCA. 2016-04-06. Retrieved 2017-02-14.
  3. ↑ https://www.bbc.co.uk/news/business-35408302
  4. ↑ Inman, Phillip (2015-07-17). "City watchdog chief quits after George Osborne vote of no confidence". The Guardian. ISSN 0261-3077. Retrieved 2017-02-14.
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