Andrew Bailey Biography
Andrew Bailey is a British Banker who is the Governor of the Bank of England since 16th March, 2020. Previously he served as the Chief Cashier of the Bank of England from January 2004 until April 2011, Deputy Governor of the Bank of England for Prudential Regulation from April 2013 to July 2016, and Chief Executive of the Financial Conduct Authority from 2016 to 2020.
Andrew Bailey Age
He was born on 30th March, 1959, Leicester, United Kingdom.
Andrew Bailey Height
He stand at a height of 5 feet and 10 inches.
Andrew Bailey Nationality
Andrew is a British Nationality.
Andrew Bailey Ethnicity
Andrew is of white ethnicity.
Andrew Bailey Education
He attended Wyggeston Boys’ Grammar School, Leicester, from there he went to Queens’ College, Cambridge, where he gained a bachelor’s degree in History, he was promoted to MA by seniority in 1985 and a PhD from the Faculty of History, University of Cambridge in 1984.
Andrew Bailey Parents
He has managed to keep information about his family away from the limelight. Not much is known in regards to his parents
Andrew Bailey Siblings
Details regarding his siblings are not known.
Andrew Bailey Wife
Andrew is married to Cheryl Schonhardt-Bailey professor of political science and head of the Department of Government at the London School of Economics and Political Science.
Andrew Bailey Children
Andrew and his wife Cheryl Schonhardt-Bailey have two children.
Andrew Bailey Bank Of England
He joined the Bank of England in 1985. He recently worked as executive director for banking services and as Chief Cashier, as well as head of the bank’s Special Resolution Unit . Previous roles include Governor’s private secretary, and head of the International Economic Analysis Division in Monetary Analysis.
On 1st April 2013, he became the chief executive of the new Prudential Regulation Authority and the first deputy governor of the Bank of England for Prudential Regulation.
On 3rd June 2019, it was reported in The Times that Bailey was the favourite to replace Mark Carney as the new Governor of the Bank of England. Sajid Javid had also intervened in support of Bailey. According to The Economist, “He is widely seen within the bank as a safe pair of hands, an experienced technocrat who knows how to manage an organisation”.
In May 2022, Bailey faced criticism from union leaders over his comments asking workers not to demand a pay rise, in the context of the current cost-of-living crisis. He also objected to the title of a report by the House of Lords’ Economic Affairs Committee, “Quantitative easing: a dangerous addiction? In May 2022 Bailey stated that rising food prices is a “major worry” for the UK and other countries. His term will expire on 15 March 2028.
Andrew Bailey A Central Bank on the High Wire
Andrew Bailey, the Bank of England chief, is trying to calm markets, wrestle inflation and maintain the bank’s credibility amid Britain’s financial storm. Andrew Bailey is in an unenviable position. As governor of the Bank of England, he must rein in inflation, which is rising at the fastest pace in 40 years.
Mr. Bailey has a laundry list of challenges, including returning order to a dysfunctional bond market, stopping the turmoil in the pension fund industry from precipitating a full-blown financial crisis and protecting the central bank’s independence from the government.
Sitting atop the central bank, Mr. Bailey has to manage two tasks: keeping inflation low and stable and ensuring Britain’s financial stability. In the weeks since the government released its tax cut plan on Sept. 23, his efforts to do both have collided, leading to complicated and at times conflicting messaging, putting the 328-year-old bank’s credibility at risk.
Andrew Bailey Salary
He earns an estimated salary of GBP 500,000.
Andrew Bailey Net Worth
His net worth is estimated to be GBP 5 million.
Andrew Bailey Instagram
He does not have an Instagram account.