Andrew Bailey becomes new Chief Exec of UK FCA

Andrew Bailey, the Chief Executive Officer of the UK Prudential Regulation Authority, will take the helm of the Financial Conduct Authority (FCA). HM Treasury have today announced his appointment as the new CEO of the FCA.

Mr Bailey will assume his new role once his successor at the Prudential Regulation Authority (PRA) has been found.

He will succeed Tracey McDermott, who has acted as interim CEO since Martin Wheatley stepped down from the post in September last year.

John Griffith-Jones, Chairman of the FCA commented:

I am delighted that Andrew has been appointed as the new Chief Executive. He brings unrivalled regulatory experience, a proven track record and an excellent reputation in the UK and internationally. Having been an FCA Board member since 2013 he has been fully engaged with all the regulatory issues that we have faced in recent years and in setting our strategy for the future.

I look forward to working with Andrew. He has done a great job at the PRA and he will build on the work the FCA has done over the last three years as a strong, independent regulator.

I would also like to thank Tracey McDermott for the excellent job she has been doing as the Acting CEO and for agreeing to remain in post until Andrew starts.”

FCA_logoIn addition, HM Treasury have today also named four new Non-executive FCA Board Members. They are:

  • Bradley Fried;
  • Baroness (Sarah) Hogg;
  • Ruth Kelly;
  • Tom Wright.

These appointments will be effective from April 1, 2016.

You can view the FCA announcement about the appointments by clicking here.

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