Deputy Governor of the Bank of England

A Deputy Governor of the Bank of England is the holder of one of a small number of senior positions at the Bank of England, reporting directly to the Governor.

According to the original charter of 27 July 1694 the Bank's affairs would be supervised by a Governor, the Deputy Governor and 24 directors. [1] Since then, however, the role of Deputy Governor has been split and redefined three times (by the Bank of England Act 1998, the Financial Services Act 2012 and again in 2014), such that, as of May 2016, there are four Deputy Governors (Sir Jon Cunliffe, Ben Broadbent, Sam Woods and Sir David Ramsden).[2] They have special responsibility for financial stability, monetary policy, prudential regulation and markets and banking respectively. In 2013, the position of Chief Operating Officer (COO) was created and has the same status and remuneration as a Deputy Governor.[3]

Under Schedule 1 of the Bank of England Act 1998 (as amended), Deputy Governors are appointed for five year terms, and are term-limited to two terms.

Deputy Governors of the Bank of England (1684–present)

As sole occupant (1684–1998)

NameIn office
Michael Godfrey1694–1695
Sir William Scawen1695–1697
Nathaniel Tench1697–1699
John Ward1699–1701
Abraham Houblon1701–1703
Sir James Bateman1703–1705
Sir Francis Eyles1705–1707
William Bouverie1707–1709
Nathaniel Gould1709–1711
John Rudge1711–1713
Sir Peter Delme1713–1715
Sir Gerard Conyers1715–1717
John Hanger1717–1719
Sir Thomas Scawen1719–1721
Josiah Diston1721–1723
William Thompson1723–1725
Humphry Morice1725–1727
Samuel Holden1727–1729
Sir Edward Bellamy1729–1731
John Olmius1731
Horatio Townshend1732–1733
Bryan Benson1733–1735
Thomas Cooke1735–1737
Nathaniel Gould1737–1738
Delillers Carbonnel1738–1740
Stamp Brooksbank1740–1741
William Fawkener1740–1743
Charles Savage1743–1745
Benjamin Longuet1745–1747
William Hunt1747–1749
Benjamin Lethieullier1749–1750
Alexander Sheafe1750–1752
Charles Palmer1752–1754
Matthews Beachcroft1754–1756
Merrick Burrell1756–1758
Bartholomew Burton1758–1760
Robert Marsh1760–1762
John Weyland1762–1764
Matthew Clarmont1764–1766
Samuel Fludyer1766–1768
William Cooper1768–1769
Edward Payne1769–1771
James Sperling1771–1773
Samuel Beachcroft1773–1775
James Langston1775–1776
Peter Gaussen1776–1777
Daniel Booth1777–1779
William Ewer1779–1781
Richard Neave1781–1783
George Peters1783–1785
Edward Darell1785–1787
Mark Weyland1787–1789
Samuel Bosanquet1789–1791
Godfrey Thornton1791–1793
Daniel Giles1793–1795
Thomas Raikes1795–1797
Samuel Thornton1797–1799
Job Mathew Raikes1799–1801
Joseph Nutt1801–1802
Benjamin Winthrop1802–1804
Beeston Long1804–1806
Brook Bart1806–1807
John Whitmore1807–1808
John Pearse1808–1810
William Manning1810–1812
William Mellish1812–1814
Jeremiah Harman1814–1816
George Dorrien1816–1818
Charles Pole1818–1820
John Bowden1820–1822
Cornelius Buller1822–1824
John Baker Richards1824–1826
Samuel Drewe1826–1828
John Palmer1828–1830
Andrew Thomson1830–1832
Richard Mee Raikes1832–1833
James Pattison1833–1834
Timothy Curtis1834–1837
John Bart1837–1839
Sir John Henry Pelly1839–1841
William Cotton1841–1842
John Benjamin Heath1842–1845
William Robinson1845–1847
James Morris1847
Henry James Prescot1847–1849
Thomson Hankey1849–1851
John Hubbard1851–1853
Thomas Matthias Weguelin1853–1855
Sheffield Neave1855–1857
Bonamy Dobrée1857–1859
Alfred Latham1859–1861
Kirkman Daniel Hodgson1861–1863
Henry Lancelot Holland1863–1865
Thomas Newman Hunt1865–1867
Robert Wigram Crawford1867–1869
George Lyall1869–1871
Benjamin Buck Greene1871–1873
Henry Hucks Gibbs1873–1875
Edward Howley Palmer1875–1877
John William Birch1877–1879
Henry Riversdale Grenfell1879–1881
John Saunders Gilliat1881–1883
James Pattison Currie1883–1885
Mark Wilks Collet1885–1887
William Lidderdale1877–1889
David Powell1889–1892
Clifford Wigram1892–1894
Albert George Sandeman1894–1895
Hugh Colin Smith1895–1897
Samuel Gladstone1897–1899
Augustus Steuart Prevost1899–1901
Samuel Hope Morley1901–1903
Alexander Falconer Wallace1903–1905
William Middleton Campbell1905–1907
Edgar Lubbock1907
Reginald Eden Johnston1907–1909
Alfred Clayton Cole1909–1911
Lord Walter Cunliffe1911–1913
Robert Newman1913–1915
Sir Brien Cokayne1915–1918
Sir Montagu Collet Norman1918–1920
Henry Trotter1920–1923
Cecil Lubbock1923–1925
Alan Garrett Anderson1925–1926
Henry Trotter1926–1927
Cecil Lubbock1927–1929
Ernest Musgrave Harvey1929–1936
Basil G. Catterns1936–1945
Cameron Cobbold1945–1949
Dallas Bernard1949–1954
Humphrey Mynors1954–1964
Leslie O'Brien1964–1966
Maurice Parsons1966–1970
Jasper Hollom1970–1980
Christopher McMahon1980–1986
George Blunden1986–1990
Sir Edward George1990–1993
Rupert Pennant-Rea1993–1995
Howard Davies1995–1997
David Clementi1997–1998

With specific responsibility (1998–present)

The Bank of England Act 1998, which came into force on 1 June 1998, created a second Deputy Governorship. Clementi became Deputy Governor for Financial Stability for the rest of his term, and Mervyn King became the first Deputy Governor for Monetary Policy.

Financial Stability Monetary Policy Prudential Regulation Markets and Banking
NameIn officeNameIn officeNameIn officeNameIn office
David Clementi1998–2002 Mervyn King1998–2003
Andrew Large2002–2006 Rachel Lomax2003–2008
John Gieve2006–2009 Charlie Bean2008–2014
Paul Tucker2009–2013
Financial Services Act 2012 creates new Deputy Governor for Prudential Regulation
Paul Tucker2009–2013 Charlie Bean2008–2014 Andrew Bailey2013–
Jon Cunliffe2013–
Deputy Governor for Markets and Banking created
Jon Cunliffe2013– Ben Broadbent2014– Andrew Bailey2013–2016 Nemat Shafik2014–2017
Sam Woods2016– Charlotte Hogg2017
Sir David Ramsden2017–

Chief Operating Officers

In June 2013, the position of Chief Operating Officer (COO) of the Bank of England was created.[3] The COO has responsibility for the day-to-day operations of the Bank. They have the same status and remuneration as a Deputy Governor.[4]

NameIn office
Charlotte Hogg2013–2017
Joanna Place2017–present

See also

References

  1. ↑ Richards, Richard. The Early History of Banking in England (Rle Banking and Finance). p. 152.
  2. ↑ "Governors". Bank of England. Retrieved 30 May 2016.
  3. 1 2 "News Release – Appointment of Chief Operating Officer". Bank of England. 18 June 2013. Retrieved 3 September 2015.
  4. ↑ "Governors". Bank of England. Retrieved 3 September 2015.

Bibliography

  • "Deputy Governors of the Bank of England" (PDF). Bank of England. Retrieved 3 January 2014.
  • "Select Committee on Monetary Policy Committee of the Bank of England First Report-Appendix 3". HMSO. 2001. Retrieved 3 January 2014.
  • "Appointment of Deputy Governor for Prudential Regulation". HM Government. 19 February 2013. Retrieved 3 January 2014.
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