The UK Chancellor of the Exchequer named Andrew Bailey as the next Governor of the Bank of England. Mr. Bailey will succeed former Governor Mark Carney on March 16, 2020.

Mr. Bailey has been the CEO of the Financial Conduct Authority since July 1, 2016. He is also a member of the Prudential Regulation Committee, the Financial Policy Committee and the Board of the Financial Conduct Authority. Mr. Bailey joined the Financial Services Authority in April 2011 and served as Deputy Governor, Prudential Regulation and CEO of the Prudential Regulation Authority, Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies, and Managing Director of the Prudential Business Unit.