Deputy Governor of the Bank of England
Historically, there was only one Deputy Governor, but the role has since 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, Andrew Bailey and Nemat Shafik). 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. From 1 July 2016, Sam Woods will replace Bailey.
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)
|Sir William Scawen||1695–1697|
|Sir James Bateman||1703–1705|
|Sir Francis Eyles||1705–1707|
|Sir Peter Delme||1713–1715|
|Sir Gerard Conyers||1715–1717|
|Sir Thomas Scawen||1719–1721|
|Sir Edward Bellamy||1729–1731|
|John Weyland (banker)||1762–1764|
|Job Mathew Raikes||1799–1801|
|John Baker Richards||1824–1826|
|Richard Mee Raikes||1832–1833|
|Sir John Henry Pelly||1839–1841|
|John Benjamin Heath||1842–1845|
|Henry James Prescott||1847–1849|
|Kirkman Daniel Hodgson||1861–1863|
|Henry Lancelot Holland||1863–1865|
|Thomas Newman Hunt||1865–1867|
|Robert Wigram Crawford||1867–1869|
|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|
|Albert George Sandeman||1894–1895|
|Hugh Colin Smith||1895–1897|
|Augustus Steuart Prevoat||1899–1901|
|Samuel Hope Morely||1901–1903|
|Alexander Falconer Wallace||1903–1905|
|William Middleton Campbell||1905–1907|
|Reginald Eden Johnston||1907–1909|
|Alfred Clayton Cole||1909–1911|
|Lord Walter Cunliffe||1911–1913|
|Sir Brien Cokayne||1915–1918|
|Sir Montagu Collet Norman||1918–1920|
|Alan Garrett Anderson||1925–1926|
|Basil G. Catterns||1936–1945|
|Sir Edward George||1990–1993|
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|
|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|
|Financial Services Act 2012 creates new Deputy Governor for Prudential Regulation|
|Paul Tucker||2009–2013||Charlie Bean||2008–2014||Andrew Bailey||2013–|
|Deputy Governor for Markets and Banking created|
|Jon Cunliffe||2013–||Ben Broadbent||2014–||Andrew Bailey||2013–2016||Nemat Shafik||2014–|
Chief Operating Officers
In June 2013, the position of Chief Operating Officer (COO) of the Bank of England was created. The COO has responsibility for the day-to-day operations of the Bank. They have the same status and remuneration as a Deputy Governor.
- "Governors". Bank of England. Retrieved 30 May 2016.
- "News Release - Appointment of Chief Operating Officer". Bank of England. 18 June 2013. Retrieved 3 September 2015.
- "Sam Woods appointed as new PRA chief". BBC News. Retrieved 23 April 2016.
- "Governors". Bank of England. Retrieved 3 September 2015.
- "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. HMSO. 2001 http://www.parliament.the-stationery-office.co.uk/pa/ld199899/ldselect/ldmon/34/1021310.htm. Retrieved 3 January 2014. Missing or empty
- "Appointment of Deputy Governor for Prudential Regulation". HM Government. 19 February 2013. Retrieved 3 January 2014.