Newspaper article International New York Times

Bank of England Official to Head British Regulator

Newspaper article International New York Times

Bank of England Official to Head British Regulator

Article excerpt

Mr. Bailey, the chief executive of the central bank's Prudential Regulation Authority, would take the top job at the financial markets regulator this year.

The Financial Conduct Authority of Britain on Tuesday named a longtime Bank of England official to serve as its new chief executive.

Andrew Bailey, the deputy governor for prudential regulation at the Bank of England and the chief executive of the Prudential Regulation Authority, another British financial regulator within the Bank of England, is expected to take the top job at the Financial Conduct Authority once his successor is chosen, the central bank said.

The Financial Conduct Authority said that it expected Mr. Bailey to begin the five-year term as chief executive in July.

Mr. Bailey's "appointment is an important next step in the establishment of the F. …

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