Bailey appointment as BoE governor divides industry

Mixed reaction to ex-FCA CEO's arrival

This month sees former chief executive of the FCA Andrew Bailey pick up the mantle as Governor of the Bank of England (BoE) in what is a divisive move.

While the news of Bailey's appointment to succeed incumbent Governor Mark Carney on 16 March was welcomed by many when it was announced in December, the string of regulatory scandals under Bailey's watch at the FCA has prompted some to question his suitability for the top job at the BoE. Adding fuel to the fire is the fact Bailey was hired by former Chancellor Sajid Javid, who has since stepped down in a shock move, while Bailey's appointment also put the kibosh on any hopes the Bank would be helmed by a female governor for the first time in its history. Indeed, the Treasury had hire...