Andrew Bailey agrees to lead FCA
PRA chief executive accepts top job at UK’s other financial regulator
The Bank of England's Andrew Bailey is to become chief executive of the UK's Financial Conduct Authority (FCA) after the government asked him to take on the role, he revealed today (January 26).
Bailey said he had planned to complete his term as chief executive of the Prudential Regulation Authority (PRA), the other half of the UK's ‘twin peaks' financial regulatory system, but was asked by the chancellor of the exchequer to take on the FCA top job.
"After a lot of thought I have decided to move
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