Dr Andrew Bailey is the newly appointed head of the Financial Conduct Authority (FCA), the watchdog tasked with setting and enforcing the rules
governing financial companies and markets. Dr Bailey received First Class honours in History at Queens' before reading for a PhD in Economic History at the College.
He is well equipped for the role, having run the Prudential Regulation Authority (PRA) at the Central Bank. As Chief-Executive of the PRA, Dr Bailey oversaw the work of 1,700 banks, building societies, credit unions, insurers and major investment firms. In response to his new appointment, he issued a statement, "although it had not been my intention to leave the PRA during my term as chief executive, a job that I enjoy enormously, it is a great honour to have been asked by the chancellor to take on the job of FCA chief executive,".
Chancellor George Osborne had approached Dr Bailey about the role. Mr Osborne said: “We have cast the net far and wide for this crucial appointment and, having led the Bank of England’s response to the financial crisis; Andrew is simply the most respected, most experienced and most qualified person in the world to do the job."
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