Appointment of Andrew Bailey as Chief Executive Officer of the Financial Conduct Authority Contents

2The appointment of Andrew Bailey

Background on Andrew Bailey

5.Andrew Bailey assumed the role of Chief Executive of the FCA on 1 July 2016. As Chief Executive, he is also a member of the Prudential Regulation Authority Board, the Financial Policy Committee, and the Board of the Financial Conduct Authority.

6.From April 2013 until July 2016, Dr Bailey was the first Chief Executive of the Prudential Regulation Authority (PRA) and Deputy Governor, Prudential Regulation at the Bank of England. Earlier, he joined the Financial Services Authority (FSA) in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies, becoming Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. He was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.

7. Previously, Dr Bailey worked at the Bank in a number of areas, including: Executive Director for Banking Services and Chief Cashier; Head of the Bank’s Special Resolution Unit (SRU); Governor’s Private Secretary; and Head of the International Economic Analysis Division in Monetary Analysis. He studied at Queen’s College, Cambridge, where he obtained a BA First Class Honours in History and a PhD in Economic History.2

Our evidence

8.In oral evidence, we questioned Andrew Bailey about the operations of the FCA and his plans for his tenure as Chief Executive. Topics covered during the session included:


9.We are satisfied that Andrew Bailey has the professional competence and personal independence to carry out his role as Chief Executive of the Financial Conduct Authority (FCA). We wish him every success in his role.

2 This biography is adapted from one published on the Bank of England website, obtained 19 July 2016

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21 July 2016