in 1985) and a Ph.D. from the Faculty of History, University of Cambridge in 1984 with a thesis on the impact of the Napoleonic Wars on the development of the cotton industry in Lancashire.

[5] He replaced Tracey McDermott, who became acting CEO after Martin Wheatley resigned following a vote of no confidence by George Osborne in July 2015.

A subsequent National Audit Office probe into the case concluded that members of the BSPS suffered significant financial losses because the FCA failed to take action on numerous reports of some FCA-authorised firms giving unsuitable transfer advice.

[8] On 3 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.

"[12] In 2021, Bailey objected to the title of a report by the House of Lords' Economic Affairs Committee, "Quantitative easing: a dangerous addiction?

[13] In February 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.

[16] Following the "mini-budget", Bailey said on Monday that the BoE "will not hesitate" to raise interest rates if needed to meet its 2% inflation target, and that it was watching financial markets "very closely" following sharp moves in asset prices.