The U.K. Chancellor of the Exchequer, Sajid Javid, has announced the appointment of Andrew Bailey as the new Governor of the Bank of England. Mr. Bailey will take over from the current Governor, Mark Carney, on March 16, 2020. Mr. Bailey is currently head of the U.K. Financial Conduct Authority, a position he has held since July 2016. An interim Chief Executive of the FCA will be appointed prior to Mr. Bailey’s departure to ensure continuity until a permanent successor is chosen. View the Chancellor's announcement. View HM Treasury's News Update. Return to main website.