Andrew Bailey appointed as new Chief Executive of the FCA

[Legal Beagles]

HM Treasury have today announced the appointment of Andrew Bailey as the new permanent Chief Executive of the FCA.

http://www.fca.org.uk/news/andrew-ba...ive-of-the-fca

[Amethyst]

Re: Andrew Bailey appointed as new Chief Executive of 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. Andrew is expected to take up the role in July 2016.
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.
“I would also like to thank Tracey McDermott for the excellent job she has been doing as the Acting CEO and for agreeing to remain in post until Andrew starts.”
HM Treasury have today also appointed four new Non-executive FCA Board Members. They are:

• Bradley Fried
  Bradley will join the Board on 1 April. Bradley is Chief Executive Officer of the Kirsh Group and a founder of investment firm Grovepoint Capital LLP. Brad is Deputy Chairman of the Court of Directors of the Bank of England, and Chairman of its Audit & Risk Committee of the Bank of England. He is a fellow at Magdalene College, Cambridge.
  
• Baroness (Sarah) Hogg
  Sarah will join the FCA Board on 1 April. Sarah is Chairman of the Audit Committee at the John Lewis Partnership and a member of the Takeover Panel. She is also Lead Independent Director of HM Treasury.
  
  Sarah will be stepping down shortly as a Non-Executive Director of BG Group and was previously Chairman of the Financial Reporting Council, 3i Group plc and Frontier Economics. From 1990 to 1995 she was Head of the Prime Minister’s Policy Unit.
  
  
• Ruth Kelly
  Ruth will join the Board on 1 April. Ruth is Pro Vice-Chancellor at St Mary’s University, Twickenham, a non-executive Director at National Grid and a Governor for the National Institute of Economic and Social Research. Ruth previously worked at HSBC, most recently as Global Head of Client Strategy in HSBC Global Asset Management.
  
  
• Tom Wright
  
  Tom will join the FCA Board on 1 April. Tom is Group Chief Executive of charity Age UK, which provides information and advice for older people. With extensive financial services experience, Tom also co-chaired the Financial Services Commission into the financial resilience of people in retirement. He is a member of both our Financial Advice Market Review expert panel and the Financial Capability Board.

These appointments will take effect from 1 April 2016. They replace Sir Brian Pomeroy and Amanda Davidson, who will step down from the Board on 31 March 2016, and Mick McAteer who stood down on the 31 December 2015.