Andrew Bailey to head the FCA

The new chief of the UK's Financial Conduct Authority will step into his new role in July

Andrew Bailey
Andrew Bailey: retaining his current role at the BoE until a successor has been appointed

The UK Treasury today (January 26) announced the appointment of Andrew Bailey as chief executive of the Financial Conduct Authority (FCA), the UK regulator.

Bailey is expected to take up the role in July, when he will replace Tracey McDermott, who has been acting chief executive since Martin Wheatley stepped down in September 2015.

"We have cast the net far and wide for this crucial appointment, and having led the Bank of England's (BoE) response to the financial crisis, Andrew is simply the mos