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Governor of the Bank of England

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

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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