Andrew Bailey announced as new Bank of England Governor

Andrew Bailey, formerly head of the Financial Conduct Authority, has been selected to take over from Mark Carney as the next Bank of England Governor. Bailey has previously held the position of deputy governor at the BoE for 30 years before his move to the FCA. Given his extensive work within the UK’s financial circles this appointment is seen as a positive move to by the UK government to insert a highly qualified domestic candidate into the role.