Andrew Bailey approved as Bank of England governor

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Andrew Bailey has cleared the last obstacle to his appointment as Bank of England governor, after the Treasury Committee gave him its unanimous approval.

Bailey faced tough questioning from the committee in his appointment hearing on March 4. Lawmakers raised questions over his tenure as chief of the Financial Conduct Authority, a time when the regulator was forced to deal with several scandals.

Bailey argued he had taken on an institution that was struggling to adapt to its oversight

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