Tuesday, June 25, 2024

272 Paul Tucker
Deputy Governor, Financial Stability - The Bank of England

Paul Tucker has a strategic role in addition to his Bank of England brief as Deputy Governor. At the Financial Stability Board (FSB), he is chairing a sub committee of the Adair (Standing Committee for Supervisory and regulatory Co-Operation) which is titled the Cross Border Crisis Management Work Group.

From 1980-1989 Tucker worked as a banking supervisor; a corporate financier at a merchant bank; and on projects to reform the Hong Kong securities markets and regulatory system following the 1987 crash, and then the UK's wholesale payments system, leading to the introduction of real-time gross settlement. He was Principal Private Secretary to Bank of England Governor Leigh-Pemberton for 3 years until 1993, from where he moved to the domestic market operations area. He became Head of Gilt-Edged & Money Markets Division in mid-1994, during a period of reforms in the gilt and sterling money markets. He was Head of Monetary Assessment and Strategy Division 1997-1998, which is responsible for assessing UK monetary conditions and issues concerning the monetary framework. From January 1999, he was Deputy Director, Financial Stability, and was closely involved with the Bank's Financial Stability Review. From May 1997 to June 2002, he was also on the Secretariat of the Monetary Policy Committee, preparing the published minutes. From June 2002 until his current appointment, he was Executive Director for Markets, with responsibility for (i) the Bank's implementation of monetary policy and the management of its balance sheet more generally, including management of UK's foreign currency reserves; and (ii) for market intelligence and analysis supporting the Bank's monetary and financial stability core purposes.