Andrew Bailey has been named as the chief executive of the Prudential Regulation Authority (PRA), as well as being appointed to the new role of deputy governor for prudential regulation at the Bank of England.
The Bank confirmed Bailey would become the third deputy governor at the Bank on 1 April. Paul Tucker and Charles Bean are already deputy governors in charge of financial stability and monetary policy respectively. Bailey will also take up the role of chief executive of the soon to be formed PRA on the same day. The Chancellor George Osborne said: "Andrew Bailey has the right skills and experience to lead the PRA as it moves into the new era of judgement-led supervision. "Putting the Bank of England in charge of prudential regulation is at the heart of the government's reforms to...
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