Bank names special resolution czar

Andrew Bailey was appointed head of the Special Resolution Unit at the Bank of England on Tuesday.

He will also continue his current role as the central bank’s executive director for banking services and chief cashier. In his new role, he will report to Paul Tucker, the deputy governor for financial stabilty.

Mervyn King, the governor of the Bank, noted that Bailey has already been serving as acting head of the unit, which had resolved the future of the Dunfermline Building Society successfully.

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