Bank of England deputy ready for challenge
FORMER GOVERNMENT adviser Sir Jon Cunliffe was this week appointed the new deputy governor of the Bank of England.
Sir Jon, who as the head of international economic affairs for the Prime Minister’s Office worked closely with Gordon Brown during the financial crisis of 2008, will be primarily responsible for financial stability, monetary policy and will represent the bank on national and international bodies.
The 60-year-old, who was married at the New London Synagogue in St John’s Wood, north-west London, will take up the position in November.
He said: “I am delighted to have been appointed. It is both an honour and an exciting challenge to be joining the bank now, as it takes on formally its new role and responsibilities for financial stability.
“I look forward to working with [bank governor] Mark Car- ney and all of the bank team as this new chapter is written in the bank’s long and distinguished history.”
Mr Carney said he too was delighted at Sir Jon’s appointment. “I have been fortunate to have worked with Jon for over a decade on a wide variety of international issues.
“He is an outstanding public servant, with vast experience of financial and economic policy,” he said.
The Bank of England sold gold looted by the Nazis from Czechoslovakia, it was revealed this week. Newly released documents show that the bank complied with a request to move £5.6 million of gold from a Czech national bank account in London t o the German Reichsbank. Some of the gold was then sold in London despite the fact that the British government had frozen all Czech assets after the Nazi i nvasi o n o f the country in 1939.