Andrew Bailey assumed the role of Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority (PRA) on 1 April 2013. As Deputy Governor for Prudential Regulation and CEO of the PRA, Andrew Bailey is also a member of the Bank’s Court of Directors, the PRA Board, the Financial Policy Committee, and the Board of the Financial Conduct Authority.
While retaining his role as Executive Director of the Bank, Andrew joined the Financial Services Authority in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies. In July 2012, Andrew became Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. Andrew was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.
Previously, Andrew has worked at the Bank in a number of areas, most recently as Executive Director for Banking Services and Chief Cashier, as well as Head of the Bank's Special Resolution Unit (SRU). Previous roles include Governor's Private Secretary, and Head of the International Economic Analysis Division in Monetary Analysis.
News released 26 January 2016 confirming that Andrew has been appointed as the new CEO of the Financial Conduct Authority (FCA) and will leave the Bank after 30 years of service; he will remain in post until his successor has been appointed, with the exact date of his departure to be confirmed in due course. Andrew will continue to fulfil the full functions of his role as Deputy Governor and PRA CEO, including his international commitments, until his departure from the Bank.