Sir Jon Cunliffe has been appointed as deputy governor of the Bank of England for financial stability, following Paul Tucker’s resignation.
As the Bank’s deputy governor for financial stability, Sir Jon will be tasked with ensuring the safety and stability of the UK’s financial sector and will sit on the Bank’s court of directors, the Financial Policy Committee, the Monetary Policy Committee, the board of the Prudential Regulation Authority, and will represent the Bank on national and international bodies.
Sir Jon will be starting his new role on 1 November.
This follows June’s announcement that Paul Tucker would be stepping down from his role as deputy governor after three decades at the bank.
Mark Carney, govenor of the Bank of England, said: “I am delighted that Sir Jon Cunliffe is to join the Bank of England. I have been fortunate to have worked with Jon for over a decade on a wide variety of international issues at the G7, G20 and Financial Stability Board.
“He is an outstanding public servant, with vast experience of financial and economic policy.
“He brings an important European and international perspective that will be vital in ensuring that the Bank of England can shape both the UK and international financial systems so that they effectively serve the needs of the real economy.”
