Andrew Bailey

People who engage in risky activities in the financial services sector should be forced to take on unlimited personal liability as a deterrent to bad practice, according to the boss of Hermes.

Chief executive of the Prudential Regulation Authority (PRA), Andrew Bailey, has said it is "more than odd" that the top bosses in control of failed banks have avoided formal charges.

Andrew Bailey has been named as the chief executive of the Prudential Regulation Authority (PRA).