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)Edit

As sole occupant (1684–1998)Edit

Name In office
Michael Godfrey 1694–1695
Sir William Scawen 1695–1697
Nathaniel Tench 1697–1699
John Ward 1699–1701
Abraham Houblon 1701–1703
Sir James Bateman 1703–1705
Sir Francis Eyles 1705–1707
William Bouverie 1707–1709
Nathaniel Gould 1709–1711
John Rudge 1711–1713
Sir Peter Delme 1713–1715
Sir Gerard Conyers 1715–1717
John Hanger 1717–1719
Sir Thomas Scawen 1719–1721
Josiah Diston 1721–1723
William Thompson 1723–1725
Humphry Morice 1725–1727
Samuel Holden 1727–1729
Sir Edward Bellamy 1729–1731
John Olmius 1731
Horatio Townshend 1732–1733
Bryan Benson 1733–1735
Thomas Cooke 1735–1737
Nathaniel Gould 1737–1738
Delillers Carbonnel 1738–1740
Stamp Brooksbank 1740–1741
William Fawkener 1740–1743
Charles Savage 1743–1745
Benjamin Longuet 1745–1747
William Hunt 1747–1749
Benjamin Lethieullier 1749–1750
Alexander Sheafe 1750–1752
Charles Palmer 1752–1754
Matthews Beachcroft 1754–1756
Merrick Burrell 1756–1758
Bartholomew Burton 1758–1760
Robert Marsh 1760–1762
John Weyland 1762–1764
Matthew Clarmont 1764–1766
Samuel Fludyer 1766–1768
William Cooper 1768–1769
Edward Payne 1769–1771
James Sperling 1771–1773
Samuel Beachcroft 1773–1775
James Langston 1775–1776
Peter Gaussen 1776–1777
Daniel Booth 1777–1779
William Ewer 1779–1781
Richard Neave 1781–1783
George Peters 1783–1785
Edward Darell 1785–1787
Mark Weyland 1787–1789
Samuel Bosanquet 1789–1791
Godfrey Thornton 1791–1793
Daniel Giles 1793–1795
Thomas Raikes 1795–1797
Samuel Thornton 1797–1799
Job Mathew Raikes 1799–1801
Joseph Nutt 1801–1802
Benjamin Winthrop 1802–1804
Beeston Long 1804–1806
Brook Bart 1806–1807
John Whitmore 1807–1808
John Pearse 1808–1810
William Manning 1810–1812
William Mellish 1812–1814
Jeremiah Harman 1814–1816
George Dorrien 1816–1818
Charles Pole 1818–1820
John Bowden 1820–1822
Cornelius Buller 1822–1824
John Baker Richards 1824–1826
Samuel Drewe 1826–1828
John Palmer 1828–1830
Andrew Thomson 1830–1832
Richard Mee Raikes 1832–1833
James Pattison 1833–1834
Timothy Curtis 1834–1837
John Bart 1837–1839
Sir John Henry Pelly 1839–1841
William Cotton 1841–1842
John Benjamin Heath 1842–1845
William Robinson 1845–1847
James Morris 1847
Henry James Prescot 1847–1849
Thomson Hankey 1849–1851
John Hubbard 1851–1853
Thomas Matthias Weguelin 1853–1855
Sheffield Neave 1855–1857
Bonamy Dobrée 1857–1859
Alfred Latham 1859–1861
Kirkman Daniel Hodgson 1861–1863
Henry Lancelot Holland 1863–1865
Thomas Newman Hunt 1865–1867
Robert Wigram Crawford 1867–1869
George Lyall 1869–1871
Benjamin Buck Greene 1871–1873
Henry Hucks Gibbs 1873–1875
Edward Howley Palmer 1875–1877
John William Birch 1877–1879
Henry Riversdale Grenfell 1879–1881
John Saunders Gilliat 1881–1883
James Pattison Currie 1883–1885
Mark Wilks Collet 1885–1887
William Lidderdale 1877–1889
David Powell 1889–1892
Clifford Wigram 1892–1894
Albert George Sandeman 1894–1895
Hugh Colin Smith 1895–1897
Samuel Gladstone 1897–1899
Augustus Steuart Prevost 1899–1901
Samuel Hope Morley 1901–1903
Alexander Falconer Wallace 1903–1905
William Middleton Campbell 1905–1907
Edgar Lubbock 1907
Reginald Eden Johnston 1907–1909
Alfred Clayton Cole 1909–1911
Lord Walter Cunliffe 1911–1913
Robert Newman 1913–1915
Sir Brien Cokayne 1915–1918
Sir Montagu Collet Norman 1918–1920
Henry Trotter 1920–1923
Cecil Lubbock 1923–1925
Alan Garrett Anderson 1925–1926
Henry Trotter 1926–1927
Cecil Lubbock 1927–1929
Ernest Musgrave Harvey 1929–1936
Basil G. Catterns 1936–1945
Cameron Cobbold 1945–1949
Dallas Bernard 1949–1954
Humphrey Mynors 1954–1964
Leslie O'Brien 1964–1966
Maurice Parsons 1966–1970
Jasper Hollom 1970–1980
Christopher McMahon 1980–1986
George Blunden 1986–1990
Sir Edward George 1990–1993
Rupert Pennant-Rea 1993–1995
Howard Davies 1995–1997
David Clementi 1997–1998

With specific responsibility (1998–present)Edit

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
Name In office Name In office Name In office Name In office
David Clementi 1998–2002 Mervyn King 1998–2003
Andrew Large 2002–2006 Rachel Lomax 2003–2008
John Gieve 2006–2009 Charlie Bean 2008–2014
Paul Tucker 2009–2013
Financial Services Act 2012 creates new Deputy Governor for Prudential Regulation
Paul Tucker 2009–2013 Charlie Bean 2008–2014 Andrew Bailey 2013–
Jon Cunliffe 2013–
Deputy Governor for Markets and Banking created
Jon Cunliffe 2013– Ben Broadbent 2014– Andrew Bailey 2013–2016 Nemat Shafik 2014–2017
Sam Woods 2016– Charlotte Hogg 2017
Sir David Ramsden 2017–

Chief operating officersEdit

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]

Name In office
Charlotte Hogg 2013–2017
Joanna Place 2017–present

See alsoEdit

ReferencesEdit

  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. ^ a b "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.

BibliographyEdit