Britain’s new government named Andrew Bailey as the next Bank of England governor. Bailey was a former deputy governor at the BoE and is one of London's most experienced financial regulators
LONDON - Britain’s new government named Andrew Bailey as the Bank of England’s next boss on Friday, entrusting a veteran regulator and technocrat with steering the economy and its vast finance industry through Brexit.
Bailey, who has sought to present a neutral stance on Brexit, said he was honored to succeed Mark Carney “particularly at such a critical time for the nation as we leave the European Union.” “When he was in the room you were confident you had someone who was worth listening to and, importantly, also had the solution to what the problem might be,” a former official involved in the crisis said, speaking on condition of anonymity.
Bailey’s ousted FCA predecessor Martin Wheatley had a reputation for plain speaking, leading to suggestions that then finance minister George Osborne forced him out to appoint someone less confrontational. Prominent anti-Brexit campaigner Gina Miller, who works for wealth management firm SCM Direct, accused Bailey of being too slow to stop the rot at Woodford.
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