Appointment seen as reward by UK chancellor George Osborne for his work on devising the ringfencing rules for banks One of the officials responsible for the bank ringfencing rules is being rewarded by the UK chancellor,George Osborne, by being appointed as a fresh deputy governor of the Bank of England.
Sam Woods is being promoted from his current role overseeing the insurance industry and replaces Andrew Bailey, and who is being parachuted in to head the Financial Conduct Authority the body that regulates the industry from a consumer standpoint. Related: Banks told to declare links to Panama Papers law firm by next week Continue reading...
Source: theguardian.com