(30 December 2019 – United Kingdom) Andrew Bailey has been appointed as the next governor of the Bank of England (BoE).
Mr Bailey is currently CEO of the Financial Conduct Authority (FCA), the financial regulator. He becomes the 121st governor of the BoE at the end of Q1 2020 after taking over from Mark Carney, who served his full eight-year term. Mr Carney had been due to step down on 31 January but agreed to continue until 15 March in order to provide for a smooth transition. Mr Bailey spent more than 30 years at the Bank after joining in 1985 and was viewed as a favourite for the role. He has held a number of roles including chief cashier, which meant that his signature appeared on all bank notes issued by the BoE.
“He was the stand-out candidate in a competitive field. 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” stated Chancellor Sajid Javid.
“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” stated Mr Bailey.