58/01
3 May 2001
NON-EXECUTIVE APPOINTMENTS TO THE COURT OF THE BANK OF ENGLAND
The Queen has been pleased to approve the appointment of Sir John Bond, Mary Francis, Graham Hall and DeAnne Julius to the Court of the Bank of England.
The Queen has also been pleased to approve the reappointment of Sir David Cooksey. The Chancellor has designated Sir David as the Chair of the Court sub-committee of non-executive Directors.
All non-executives serve in a personal capacity, but bring particular experience to the Court's deliberations.
NOTES TO EDITORS
1. All appointments have been made in accordance with the guidance issued by the Commissioner for Public Appointments. They will run from 1 June 2001 until 31 May 2004.
2. Sir David Cooksey, whose term was due to expire on 31 May 2001, has been reappointed for a further three-years and has been designated by the Chancellor as the senior non-executive Director.
3. The Bank of England Act 1998 gives the non-executive Directors an explicit role in overseeing and reporting on the Bank's performance. The Act created a sub-committee of Directors with statutory responsibilities for keeping the Bank's performance under review. All of the non-executive Directors are members of this Committee, and one of their number is appointed by the Chancellor to Chair it. The current chair is Baroness Noakes who will be succeeded by Sir David Cooksey on 1 June 2001.
4. Sir John Bond is chair of HSBC Group, Mary Francis is Director General of the Association of British Insurers, Graham Hall is chair of Yorkshire Forward a Regional Development Agency and DeAnne Julius will step down from the MPC at the end of May 2001.
5. The membership of the Court at present is: Sir Edward George, David Clementi, Mervyn King, Roy Bailie, Bridget Blow, Andrew Buxton, Sir David Cooksey, Sir Howard Davies, Sir Ian Gibson, Frances Heaton, Sir John Keswick, Sheila McKechnie, Sir Brian Moffat, William Morris, John Neill, Baroness Noakes, Kathleen O'Donovan, Sir Neville Simms James Stretton.
6. Advertisements for these appointments appeared in the Guardian (31 January), Financial Times (1 February) The Economist (2 February) and The Observer (4 February).
7. Media enquiries should be addressed to Liane Farrer in the Treasury press office on 020 7270 5192.
8. Further details can be found on the Bank of England's website.