Andrew Bailey who is currently the chief executive of the Financial Conduct Authority (FCA) has been appointed as the new governor of the Bank of England (BoE).
The chancellor Sajid Javid appointed Bailey and said he was “the stand-out candidate in a competitive field.”
Adding, “He is the right person to lead the Bank as we forge a new future outside the EU and level-up opportunity across the country.”
Bailey said it is a “tremendous honour” to succeed Mark Carney as the new governor of the BoE.
He said, “The Bank has a very important job and, as governor, I will continue the work that Mark Carney has done to ensure that it has the public interest at the heart of everything it does.”
Carney said Bailey is “an extraordinary public servant.”
“Andrew brings unparalleled experience, built over three decades of dedicated service across all policy areas of the Bank.”