Bank of England  

FCA’s Bailey named next BoE governor

The Chancellor said: "When we launched this process, we said we were looking for a leader of international standing with expertise across monetary, economic and regulatory matters.

"In Andrew Bailey that is who we have appointed. Andrew was the stand-out candidate in a competitive field. He is the right person to lead the Bank as we forge a new future outside the EU and level-up opportunity across the country."

The Treasury said an interim chief executive of the FCA would be appointed "well ahead" of Mr Bailey's departure until a permanent successor was chosen by the Treasury.

The FCA declined to comment.

imogen.tew@ft.com

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