BoE's Andrew Bailey appointed chair of global financial stability regulator

Unanimously appointed

Governor of the Bank of England Andrew Bailey has been appointed chair of the Financial Stability Board, just as markets undergo one of its worst weeks in decades.

In a unanimous vote, Bailey will oversee the Basel-based body which monitors and makes recommendations about the global financial system. UK regulators diverge on rules for AI use among own employees The regulator was set up by the G20 nations in 2009 in response to the global financial crisis. François Villeroy de Galhau, governor of the Bank of France and chair of the nomination committee said: "Andrew possesses the leadership, expertise, and vision needed to guide the FSB in achieving its objectives". "We are pleased to put him forward to the plenary as the next FSB chair." ...