TheCityUK has responded to the news that Andrew Bailey has been appointed the new Chief Executive of the Financial Conduct Authority (FCA).
Chris Cummings, Chief Executive, TheCityUK said,
“We are fortunate to have Andrew Bailey in this pivotal role for the City and look forward to working with him to continue to boost the UK's attractiveness as the world's leading financial and related professional services centre.
“Financial Services is the UK's largest tax paying industry, attracting more Foreign Direct Investment than any other sector and employing over 2.2 million people right across the country. We hope to see a supervisory approach that is collaborative with the industry and supports continued economic growth alongside the important job of protecting consumers.
“Andrew is the right person in the right job. He has a practical approach and is clear sighted when it comes to bolstering the UK as a place from which and in which to do business."