UK names Bailey to lead Bank of England through Brexit

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK names Andrew Bailey as new Bank of England governorFormer Bank of England deputy governor Andrew Bailey will be the British central...
Read more »

Andrew Bailey named as next Bank of England governorLONDON (AP) — The British government has named Andrew Bailey, head of the U.K.’s finance watchdog, as the next governor of the Bank of England. The appointment of Bailey, who currently heads...
Read more »

Andrew Bailey firm favorite to head Bank of England: FTFormer Bank of England deputy governor Andrew Bailey is the firm favorite to be ...
Read more »

Andrew Bailey selected as Bank of England governor: FTAndrew Bailey, the Bank of England's former deputy governor, has been selec...
Read more »

Andrew Bailey selected to replace Mark Carney as the Bank of England governorAndrew Bailey, the current head of the U.K.'s financial watchdog, has been named as the next governor of the Bank of England.
Read more »