Bank of England selects new chief for Special Resolution Unit

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Andrew Gracie was on Friday announced as the next director of the Bank of England's special resolution unit. He is set to take up his appointment at the bank on December 5.

Gracie will take over from Paul Tucker, who had been acting head of the unit since Andrew Bailey moved to the Financial Services Authority (FSA) in April this year. Bailey was chosen as the first director of the special resolution unit when it was set up in 2009.

Gracie has previously served at the bank. He first joined in 19

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