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Governor of the Bank of England

From Wikipedia, the free encyclopedia
Governor of the
Bank of England
Seal of the Bank of England
Incumbent
Andrew Bailey
since 16 March 2020
Monetary Policy Committee
Governor and Company of the Bank of England
ResidenceLondon, United Kingdom
AppointerChancellor of the Exchequer[1][2] with the approval of the Prime Minister[3] and the Monarch[4]
Term length8 years
Renewable once
Inaugural holderSir John Houblon
Formation1694
Salary£495 000 [5]
WebsiteGovernor of the Bank of England

The governor of the Bank of England is the most senior position in the Bank of England. It is nominally a civil service post, but the appointment tends to be from within the bank, with the incumbent grooming a successor. The governor of the Bank of England is also chairman of the Monetary Policy Committee, with a major role in guiding national economic and monetary policy, and is therefore one of the most important public officials in the United Kingdom.

According to the original charter of 27 July 1694 the bank's affairs would be supervised by a governor, a deputy governor, and 24 directors.[6] In its current incarnation, the bank's Court of Directors has 12 (or up to 14) members, of whom five are various designated executives of the bank.[7]

The 121st and current governor is Andrew Bailey, who began his term in March 2020.[8]

Governors of the Bank of England (1694–present)

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No. Name In office Tenure

(years)

1 Sir John Houblon 1694–1697 3
2 Sir William Scawen 1697–1699 2
3 Nathaniel Tench 1699–1701 2
4 John Ward 1701–1703 2
5 Abraham Houblon 1703–1705 2
6 Sir James Bateman 1705–1707 2
7 Francis Eyles 1707–1709 2
8 Sir Gilbert Heathcote 1709–1711 2
9 Nathaniel Gould 1711–1713 2
10 John Rudge 1713–1715 2
11 Sir Peter Delmé 1715–1717 2
12 Sir Gerard Conyers 1717–1719 2
13 John Hanger 1719–1721 2
14 Sir Thomas Scawen 1721–1723 2
15 Sir Gilbert Heathcote 1723–1725 2
16 William Thompson 1725–1727 2
17 Humphry Morice 1727–1729 2
18 Samuel Holden 1729–1731 2
19 Sir Edward Bellamy 1731–1733 2
20 Horatio Townshend 1733–1735 2
21 Bryan Benson 1735–1737 2
22 Thomas Cooke 1737–1740 3
23 Delillers Carbonnel 1740–1741 1
24 Stamp Brooksbank 1741–1743 2
25 William Fawkener 1743–1745 2
26 Charles Savage 1745–1747 2
27 Benjamin Longuet 1747–1749 2
28 William Hunt 1749–1752 3
29 Alexander Sheafe 1752–1754 2
30 Charles Palmer 1754–1756 2
31 Matthews Beachcroft 1756–1758 2
32 Merrik Burrell 1758–1760 2
33 Bartholomew Burton 1760–1762 2
34 Robert Marsh 1762–1764 2
35 John Weyland 1764–1766 2
36 Matthew Clarmont 1766–1769 3
37 William Cooper 1769–1771 2
38 Edward Payne 1771–1773 2
39 James Sperling 1773–1775 2
40 Samuel Beachcroft 1775–1777 2
41 Peter Gaussen 1777–1779 2
42 Daniel Booth 1779–1781 2
43 William Ewer 1781–1783 2
44 Richard Neave 1783–1785 2
45 George Peters 1785–1787 2
46 Edward Darell 1787–1789 2
47 Mark Weyland 1789–1791 2
48 Samuel Bosanquet 1791–1793 2
49 Godfrey Thornton 1793–1795 2
50 Daniel Giles 1795–1797 2
51 Thomas Raikes 1797–1799 2
52 Samuel Thornton 1799–1801 2
53 Job Mathew Raikes 1801–1802 1
54 Joseph Nutt 1802–1804 2
55 Benjamin Winthrop 1804–1806 2
56 Beeston Long 1806–1808 2
57 John Whitmore 1808–1810 2
58 John Pearse 1810–1812 2
59 William Manning 1812–1814 2
60 William Mellish 1814–1816 2
61 Jeremiah Harman 1816–1818 2
62 George Dorrien 1818–1820 2
63 Admiral of the Fleet Sir Charles Pole 1820–1822 2
64 John Bowden 1822–1824 2
65 Cornelius Buller 1824–1826 2
66 John Baker Richards 1826–1828 2
67 Samuel Drewe 1828–1830 2
68 John Horsley Palmer 1830–1833 3
69 Richard Mee Raikes 1833–1834 1
70 James Pattison 1834–1837 3
71 Timothy Abraham Curtis 1837–1839 2
72 Sir John Reid 1839–1841 2
73 Sir John Pelly 1841–1842 1
74 William Cotton 1842–1845 3
75 John Benjamin Heath 1845–1847 2
76 William Robinson April–August 1847 0.3
77 James Morris 1847–1849 2
78 Henry James Prescott 1849–1851 2
79 Thomson Hankey 1851–1853 2
80 John Hubbard 1853–1855 2
81 Thomas Matthias Weguelin 1855–1857 2
82 Sheffield Neave 1857–1859 2
83 Bonamy Dobrée 1859–1861 2
84 Alfred Latham 1861–1863 2
85 Kirkman Hodgson 1863–1865 2
86 Henry Lancelot Holland 1865–1867 2
87 Thomas Newman Hunt 1867–1869 2
88 Robert Wigram Crawford 1869–1871 2
89 George Lyall 1871–1873 2
90 Benjamin Buck Greene 1873–1875 2
91 Hucks Gibbs 1875–1877 2
92 Edward Howley Palmer 1877–1879 2
93 John William Birch 1879–1881 2
94 Henry Grenfell 1881–1883 2
95 John Saunders Gilliat 1883–1885 2
96 James Pattison Currie 1885–1887 2
97 Mark Collet 1887–1889 2
98 William Lidderdale 1889–1892 3
99 David Powell 1892–1895 3
100 Albert George Sandeman 1895–1897 2
101 Hugh Colin Smith 1897–1899 2
102 Samuel Steuart Gladstone 1899–1901 2
103 Sir Augustus Prevost 1901–1903 2
104 Samuel Morley 1903–1905 2
105 Alexander Falconer Wallace 1905–1907 2
106 William Middleton Campbell 1907–1909 2
107 Reginald Eden Johnston 1909–1911 2
108 Alfred Clayton Cole 1911–1913 2
109 Walter Cunliffe 1913–1918 5
110 Brien Cokayne 1918–1920 2
111 Montagu Norman 1920–1944 24
112 Lord Catto 1944–1949 5
113 Lord Cobbold 1949–1961 12
114 Lord Cromer 1961–1966 5
115 Sir Leslie O'Brien 1966–1973 7
116 Gordon Richardson 1973–1983 10
117 Robin Leigh-Pemberton 1983–1993 10
118 Sir Edward George 1993–2003 10
119 Sir Mervyn King 2003–2013 10
120 Mark Carney 2013–2020 7
121 Andrew Bailey 2020–present 5

See also

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References

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  1. ^ Chu, Ben (27 November 2012). "George Osborne gets his man: Mark Carney named as new Bank of England Governor". The Independent. Retrieved 2 April 2020. The panel put forward Mr Carney's name to the Chancellor, who then consulted the Prime Minister and the Deputy Prime Minister before announcing his decision.
  2. ^ Partington, Richard (20 December 2019). "Andrew Bailey appointed head of Bank of England". The Guardian. Retrieved 2 April 2020. Javid is understood to have decided on Bailey.
  3. ^ Mackenzie, Nell (24 December 2019). "Why didn't the Bank of England appoint a woman?". BBC News. Retrieved 4 April 2020. Andrew Bailey was appointed by the government, not the Bank: chosen by Chancellor Sajid Javid and approved by the prime minister.
  4. ^ "Andrew Bailey announced as new Governor of the Bank of England". Bank of England. 20 December 2019. Retrieved 2 April 2020. The Chancellor has announced that Andrew Bailey will become the new Governor of the Bank of England from 16 March 2020. Her Majesty the Queen has approved the appointment.
  5. ^ "Bank of England: What does the governor do?". BBC.com. 20 December 2019. Retrieved 21 December 2020.
  6. ^ Richards, Richard. The Early History of Banking in England (Rle Banking and Finance). p. 152.
  7. ^ "Court of Directors". Retrieved 2018-07-24.
  8. ^ "Andrew Bailey". www.bankofengland.co.uk. Retrieved 2020-03-16.
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