Ainley, Michael

Michael Ainley is a Senior Adviser to Andrew Bailey, Head of the Prudential Business Unit at the FSA. Since mid2010, he has been a member of the FSA Senior Leadership Team managing the transition to a Twin Peaks system of regulation; he has headed the Department supervising RBS and Barclays; and is currently running the Department that is implementing the European Insurance Directive, Solvency II. Prior to this, he was Head of Wholesale Banks and Investment Firms Department with overall responsibility for supervising 250 foreign banks in London, hedge funds, asset managers and corporate finance firms as well as 2,500 investment firms. His career before this has been mainly at the Bank of England. From 1995-1998 he was a Senior Manager, supervising the Middle East banks in London. From 1988-1994 he was Assistant Chief Cashier in the Banking Department, with responsibility for the Bank’s banking business. Prior to that he was an Adviser (Middle East and OPEC) to the Overseas Director. Michael also spent six years, from 1980-1985, at the IMF in Washington DC, working as Adviser to the UK Executive Director and then to the Executive Director for Saudi Arabia. Michael was educated at Harrow County School, Magdalen College, Oxford (MA in Modern History) and the University of Wales (M.Sc in Economics). He is a Fellow of the Chartered Institute of Bankers and has published various