The British Authorities on Friday Called Andrew Bailey, the head of the Financial Conduct Authority, to be the next Leader of the Bank of England.
Mr. Bailey, who worked in the central bank prior to leaving to conduct the fiscal watchdog at 2016, could triumph Mark Carney.
As part of the Financial Conduct Authority, Mr. Bailey has extensive oversight expertise. On Thursday, the regulator said that it had been investigating the abuse of a Bank of England sound feed which enabled investors to listen to remarks from news conferences before they had been accessible to the general public.
Mr. Bailey will start his new job on March 16. Mr. Carney, who had said he’d depart on Jan. 31, will now remain on till March 15.
Mr. Bailey will be taking control of their central bank soon afterwards Britain is expected to withdraw from the European Union, on Jan. 31.