Andrew Bailey
Executive Director Banking
& Chief Cashier
Andrew Bailey was appointed to his current role from 1 January, 2004. He has several key responsibilities:
- the security and effective operation of real time gross settlement
in the UK’s high value payment systems (CHAPS and CREST);
- along with the Bank’s Sterling Markets Division he is
also responsible for the provision of liquidity to the market
and settlement banks;
- the issuing and effective distribution of banknotes and their
security against counterfeiting; and
- the provision of banking services, focusing on high-value
government banking.
Since the onset of the financial crisis in August 2007, Andrew has been responsible for the Bank's special operations to resolve problems in the banking sector. He is head of the Bank's Special Resolution Unit, and currently Chairman and Chief Executive of Dunfermline Building Society Bridge Bank Ltd. His involvement in special operations also extends to taking responsibility for the so-called London Approach, in which the Bank uses its influence to seek resolution of problems in company refinancings and other such problems.
He is also a member of the Governor’s Executive Team
which is the Bank’s senior management group.
Andrew joined the Bank in 1985, starting in the International
Divisions, before moving to Banking Supervision. This was followed
by his first appointment in Banking Services, as senior manager
for Policy, Risk and Special Operations. He then became the
Governor’s Private Secretary, before being appointed as
Head of the International Economic Analysis Division in Monetary
Analysis until the end of 2003. He returned to Banking Services
as Chief Cashier at the beginning of 2004.
Before joining the Bank, he was a Research Officer at the London
School of Economics, which followed a BA and PhD from Queens'
College Cambridge.
