Statement on Selection of Andrew Bailey to Succeed Mark Carney as Governor of the Bank of England

The Securities and Exchange Commission has a deep and constructive relationship with the Bank of England and the UK Financial Conduct Authority that benefits both US and global capital markets.

Mark Carney and Andrew Bailey have led by example and demonstrated a personal commitment to international regulatory cooperation, including through Governor Carney’s leadership of the FSB and Chief Executive Bailey’s myriad contributions to IOSCO and other international regulatory bodies.

I look forward to continuing to work collaboratively and productively with Andrew Bailey in his new role as Governor of the Bank of England and offer my profound thanks to Mark Carney for his clear, steady, impactful and forward-looking service to the United Kingdom and our global economy.