LONDON Feb 19 Britain named Andrew Bailey as a
Deputy Governor of the Bank of England and chief executive of
the bank's new prudential regulation authority from April 1.
Bailey, former Chief Cashier at the bank, is already head of
prudential supervision at the UK's Financial Services Authority,
a watchdog that will be scrapped at the end of March, with its
banking supervision role tranferred to the new Bank of England
"Andrew Bailey has the right skills and experience to lead
the Prudential Regulation Authority as it moves into the new era
of judgement-led supervision," UK finance minister George
Osborne said in a statement.
"Putting the Bank of England in charge of prudential
regulation is at the heart of the Government's reforms to
regulation of financial services."