Asset management bosses and other senior City executives are starting to line up in support of Andrew Bailey, who was on January 26 named as the new chief executive of the UK’s Financial Conduct Authority.

Bailey, a deputy governor of the Bank of England and head of the UK's Prudential Regulation Authority, will take the reins from the FCA's interim CEO Tracey McDermott, who stepped in following the announcement in July 2015 that Martin Wheatley was to leave.