Andrew Bailey, a former Bank of England deputy governor and one of London's most experienced financial regulators, has been named as the new governor of Britain’s central bank
LONDON - Britain’s new government named Andrew Bailey as the next Bank of England boss on Friday, entrusting one of the City of London’s most experienced regulators with steering the world’s fifth-biggest economy and its vast finance industry through Brexit.
Bailey, 60, said in a statement that he was honored to take over from Mark Carney as head of the BoE “particularly at such a critical time for the nation as we leave the European Union.” Bailey’s role in containing the 2008-09 near-meltdown of the financial sector means he is a familiar face to top officials at the U.S. Federal Reserve and other major central banks.
Bailey succeeded the tough-talking Martin Wheatley at the FCA, leading to suggestions that the finance minister at the time, George Osborne, wanted someone less confrontational.
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