Hill move up from his current position of comment and analysis editor, which he took up in July 2003 after returning from New York where he was US business editor and New York bureau chief.
Prior to that, Hill was the FT's foreign news editor and deputy foreign editor. He first joined the Financial Times in 1988, and has also been a correspondent in Milan and Brussels and a UK companies reporter.
Hill replaces Deborah Hargreaves, who was recently promoted to joint news editor of the FT, alongside Tracy Corrigan.
Andrew Gowers, editor of The Financial Times, said: "Andrew is one of our most talented journalists and I'm delighted to promote him to the pivotal role of financial editor. He has a strong track record covering international business and markets, and will take our second section from strength to strength."
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