FCA head Andrew Bailey named as Bank of England governorcs-admin
Andrew Bailey has been announced as the new governor of the Bank of England by Chancellor Sajid Javid. Bailey has been appointed for an eight-year term and will receive a yearly salary of £495,000.
He will succeed current governor Mark Carney on 16 March 2020. Bailey has served as chief executive officer of the Financial Conduct Authority (FCA) since July 2016. A statement from HM Treasury stated that an interim CEO will be appointed “well ahead” of Bailey’s departure from the regulator.