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News for Members

26 January 2016

FCA Appoints New Chief Executive

HM Treasury has announced that Andrew Bailey will succeed interim CEO, Tracy McDermott as the new permanent Chief Executive for the FCA.

Andrew is currently the Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive Officer of the Prudential Regulation Authority (PRA).  Andrew is expected to take up his new role at the FCA in July 2016 once a successor for his current position at the PRA has been appointed.

John Griffith-Jones, Chairman of the FCA commented: “I am delighted that Andrew has been appointed as the new Chief Executive. He brings unrivalled regulatory experience, a proven track record and an excellent reputation in the UK and internationally.  Having been an FCA Board member since 2013 he has been fully engaged with all the regulatory issues that we have faced in recent years and in setting our strategy for the future.

"I look forward to working with Andrew. He has done a great job at the PRA and he will build on the work the FCA has done over the last three years as a strong, independent regulator."

The government has today also announced the appointments of Ruth Kelly, Bradley Fried, Baroness Hogg, and Tom Wright as Non-Executive Directors of the FCA.

Visit the FCA website to see the official press release.

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