Andrew Bailey is the current Governor of the Bank of England, tasked with overseeing the UK’s monetary policy.

In his role, he chairs the Monetary Policy Committee, which sets the Bank of England’s base rate of interest, oversees the regulation of major banks in Britain, and is responsible for working with the Government to ensure the country’s financial stability.

Here, Money Maker Times takes a closer look at the man at the top of the Bank of England: his career, his views on Brexit and other political issues, as well as his salary and net worth.

Andrew Bailey’s career history

After attending Cambridge University – where he received a BA in history and undertook a PhD on the impact of the Napoleonic Wars on the Lancashire cotton industry – Andrew Bailey took up a research role at the London School of Economics.

In 1985, Bailey joined the Bank of England, where he remained until 2016. In that time, he held numerous roles, including executive director for banking services, Chief Cashier, and head of the bank’s Special Resolution Unit (SRU).

He was also in charge of the Bank of England’s special operations addressing banking sector issues from August 2007 until April 2011, during the credit crunch and 2008 financial crisis.

When Bailey left the Bank of England in 2016, he took up the post of CEO of the UK Financial Conduct Authority.

In 2020, Bailey was appointed Governor of the Bank of England, taking over from Mark Carney.

Accepting the role, Andrew Bailey said: “It is a tremendous honour to be chosen as Governor of the Bank of England and to have the opportunity to serve the people of the United Kingdom, particularly at such a critical time for the nation as we leave the European Union.”

He added: “It is important to me that the Bank continues to work for the public by maintaining monetary and financial stability and ensuring that financial institutions are safe and sound.

“I am committed to the Bank being an accessible and approachable institution, as well as an open and diverse place to work.”

Andrew Bailey’s views on Brexit and other political issues

Sitting in a role which must remain apolitical, Andrew Bailey has kept tight-lipped about his party political views. However, plenty of people have read into what he might think based on various statements he has made.

Brexiteers were delighted when he became Governor of the Bank of England because they believed Bailey to be naturally aligned with themselves on Britain’s potential outside the EU.

In his previous role at the Financial Conduct Authority, the banker criticised the burden of legislation from Brussels and has reiterated his frustrations while at the Bank of England.

“I’ve always said, not everything about EU regulation was best suited to any national circumstances,” he said in 2023.

“We do have opportunities and I support what the government is doing to think through how to make best use of those opportunities.”

However, more recently, Bailey has spoken of the “negative impacts” of Brexit.

In May 2025, the banker said the UK must “rebuild” its trade relationship with the EU, stating: “It would be beneficial – having a more open economy to trade with the European Union. Because there has been a fall-off in goods trade with the EU over recent years.”

He added: “This does not mean that Brexit is wrong, because there can be other reasons for it, but it does suggest, I think powerfully, that we should do all we can to minimise negative effects on trade.”

Away from Brexit, Bailey has been critical of the Donald Trump administration. He has warned the White House’s tariffs on imports to the US risk undermining the global economy and has also not been afraid to criticise the American President for his attacks on the US Federal Reserve chairman.

After Trump’s repeated public clashes with Jerome Powell for not reducing interest rates, Bailey signed a joint statement with nine other central bank governors offering their “full solidarity” with their US counterpart.

Paying tribute to Powell’s “integrity”, the statement said: “The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve.

“It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability.”

Elsewhere, while some political parties in the UK have called for more deregulation of financial services to improve the country’s growth, Bailey has been a staunch advocate for keeping stringent post-2008 rules in place.n He has stated that there is “no trade-off” between growth and financial stability.

Andrew Bailey’s salary

As Governor of the Bank of England, Andrew Bailey earns a basic salary of £ £495,000 per year. The figure was the amount agreed when he first took up the post in 2020, with the economist refusing any pay rises since then.

It means in real terms, Bailey has taken a significant pay cut over the past six years. If his salary had kept up with inflation, he would be on an annual base salary of £646,000 in 2026.

As well as his base salary, he also has a pension allowance of approximately £99,000 per year, paid in lieu of pension contributions.

Andrew Bailey’s net worth

While Andrew Bailey’s net worth is not publicly known, he is likely to have accumulated a worth far lower than many other bankers his age due to virtually his entire career being spent in the public sector.

However, Andrew Bailey is known for being fiscally prudent, with his money unlikely to be spent on unnecessary luxury. He is known to live in a modest three-bed semi-detached house in south London, and when appointed as Governor of the Bank of England, he was even driving a 15-year-old car.

The other large asset he is understood to own is a holiday home in New Meadows, Idaho. The home was bought with his American wife more than 20 years ago.