Supervisors on Supervision - Culture in the Financial Sector

Andrew Bailey has been the Governor of the Bank of England since 16 March 2020.  He became the Chair of the Financial Stability Board on 1 July 2025. 

He served as Chief Executive Officer of the Financial Conduct Authority (FCA) from 1 July 2016 until taking up the role of Governor. As CEO of the FCA, Mr Bailey was also a member of the Prudential Regulation Committee, the Financial Policy Committee, and the Board of the Financial Conduct Authority.

Mr Bailey previously held the role of Deputy Governor, Prudential Regulation and CEO of the PRA from 1 April 2013. While retaining his role as Executive Director of the Bank, Mr Bailey joined the Financial Services Authority in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies. In July 2012, Mr Bailey became Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. Mr Bailey was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.

Jón Danielsson is Co-director of the Systemic Risk Centre and Reader in Finance at the LSE. Since receiving his PhD in the economics of financial markets from Duke University. Mr Danielsson's work has focused on how economic policy can lead to prosperity or disaster. He is an authority on both the technical aspects of risk forecasting and the optimal policies that governments and regulators should pursue in this area.

Mr Danielsson has written three highly regarded books: The Illusion of Control (Yale University Press, 2022), which was included on the Financial Times “Best books of 2022” list; Financial Risk Forecasting (Wiley, 2011); and Global Financial Systems: Stability and Risk (Pearson, 2013). He has also contributed numerous academic papers on systemic risk, artificial intelligence, financial risk forecasting, financial regulation and related topics to leading academic journals. 

A leading voice on financial risk, he is frequently featured in media outlets.

Andrea Enria is a Senior Advisor at the Prudential Regulation Authority and a Member of the Prudential Regulation Committee of the Bank of England, with a term of appointment from 20 March 2025 to 19 March 2028. 

He was a visiting scholar at the London School of Economics’ Financial Markets Group from May 2024 to April 2025. He previously had key roles in European banking supervision: he served as Chair of the Supervisory Board of the European Central Bank (2019-2023), first Chairperson of the European Banking Authority (2011-2018) and Secretary General of the Committee of European Banking Supervisors (2004-2008). He began his career in banking regulation and supervision at Banca d’Italia, where he covered different roles and left as Head of the Regulation and Macroprudential Analysis Department.

As the Executive Vice President of Institute of International Finance (IIF), Clay Lowery oversees the departments responsible for macroeconomic analysis, international financial regulation, financial technology, and specific policy areas such as debt transparency and analysis, and sustainable finance.

Prior to the IIF, Mr Lowery helped build and was Managing Director of the Rock Creek Global Advisors consulting firm for close to a decade. 

Mr Lowery also served in the U.S. Government for 16 years and held positions at the National Security Council and a number of positions at the U.S. Treasury Department, including serving as the Assistant Secretary for International Affairs from 2005 to 2009 where he managed a 200-person team responsible for economic and financial diplomacy, monetary and banking issues, currency strategy, and trade and investment practices.  He served as a “deputy” to the G7, G20, IMF, and Financial Stability Board on behalf of the United States.

Steven Maijoor joined the Executive Board of De Nederlandsche Bank (DNB) on 1 April 2021. As of 1 February 2024 he is also Chair of Supervision. Mr Maijoor's remit includes supervision of banks, supervision policy and legal services. Furthermore, he is a member of the Supervisory Board of the European Central Bank (ECB) and the Board of Supervisors of the European Banking Authority. He is also a member of the Trustees of the IFRS Foundation.

Before joining DNB's Executive Board, Mr Maijoor was Chair of the European Securities and Markets Authority (ESMA), from 2011-2021. Between 2004 and 2011 he was a managing director at the Dutch Authority for the Financial Markets (AFM). Prior to that he was Professor (1994-2004) and Dean (2001-2004) at the School of Business and Economics, Maastricht University.

Elizabeth McCaul was a Former Member of the Supervisory Board, European Central Bank. She is the first American to serve as a European Central Bank Representative to the ECB's
Supervisory Board. Her non-renewable five-year term concluded in 2024. Her mandate included
supervisory strategy, consistency and quality of supervision, risk, capital, internal governance, and
training. She focused on prudential implications to financial stability, including private credit markets, capital markets and geopolitical risk. She served as the chair of the Board Steering Committee on the Digital Agenda overseeing supervision of operational resiliency, IT risk, crypto, cyber-security and new FinTech entrants and the development and implementation of the SupTech strategy to deliver supervisory tools using AI.

Randal Quarles is Chairman and founder of The Cynosure Group, an alternative asset management and wealth advisory firm. From October of 2017 through October 2021, Mr Quarles was Vice Chairman of the Federal Reserve System, serving as the system’s first Vice Chairman for Supervision, charged with ensuring stability of the financial sector. From December 2018 until December 2021, he also served as the Chairman of the Financial Stability Board, a global body established after the Great Financial Crisis to coordinate international efforts to enhance financial stability. He was a key architect of the Fed’s crisis response in March of 2020, credited with maintaining the function of the US and global financial systems, as described in the books Limitless and Trillion Dollar Triage. 

In addition to leading Cynosure, he is a director of The American Express Company, Intermountain Health, Patomak Global Advisors, and Global Screening Services, UK; an advisory board member at Apollo / Athene, Millennium Management, Stripe, and Asia Gulf Holdings Pte Ltd; a member of the International Councils of Sumitomo Mitsui Banking Corporation and Mitsubishi Corporation; a trustee and chairman of the advisory board of The Center for Financial Stability; and a member of the Council on Foreign Relations, the Committee on Capital Markets Regulation, and the Bretton Woods Committee.

Carolyn Rogers was appointed Senior Deputy Governor of the Bank of Canada in December 2021, for a seven-year term.  Previously, she was Secretary General of the Basel Committee on Banking Supervision. 

Ms Rogers served as Assistant Superintendent, Regulation Sector at the Office of the Superintendent of Financial Institutions (OSFI) from 2016 to 2019,where she was responsible for policy-related functions, including capital, accounting and legislation. 

Carolyn Rogers was Superintendent and CEO of British Columbia’s Financial Institutions Commission (2010–2016). She also served as Chair of the Canadian Council of Insurance Regulators and was a founding member of the Credit Union Prudential Supervisors Association. Earlier in her career, she worked in executive positions in the private sector and in financial services at credit unions and a major bank.

Stephen Scott is Founder & CEO at Starling Trust Sciences. He spent a 25-year career in risk management and corporate intelligence, serving clients when they were: entering new markets, ventures, or commercial relationships; conducting pre-investment due diligence or testing an investment thesis; carrying out investigations into fraud or corruption; pursuing redress through litigation, arbitration, or government inquiry; and when seeking to advance their interests before government and regulatory agencies.  He has led successful investigative inquiries in over 50 countries, and has lived and worked in New York, Washington, London, Frankfurt, Madrid, and Shanghai. 

Mr Scott holds degrees from Cornell University, the London School of Economics, the Columbia Graduate School of Business, and the London Business School.

Jean-Pierre Zigrand is Co-director of the Systemic Risk Centre, Co-director of the Financial Markets Group and Associate Professor of Finance at the London School of Economics. His research interests are in the areas of systemic risk and asset pricing in which he has an extensive publication record. His teaching is principally in quantitative finance at MSc, PhD and executive levels. Dr Zigrand is the director of the LSE MSc Finance executive programme. He is a member of the Bank of England Bank’s Macroprudential Panel - Market Subgroup and has acted as a consultant to private sector financial institutions, to the Luxembourgish Central Bank as well as to regulatory bodies. He has been a Lead Expert to the UK Foresight Team on the Future of Computer Trading.