Her Majesty the Queen has nominated a new Chair of the Court of the Bank of England.
David Roberts will succeed Sir Bradley Fried, who presided over the Bank’s Court from June 2018 to June 2022, and is anticipated to start in his new position in the fall of 2022.
The Bank’s Court serves as the organization’s governing body, determining the organization’s strategy, budget, and important hiring and resourcing decisions.
Mr. Roberts will be in charge of the Court’s leadership and effectiveness in all areas of its function in his capacity as Chair.
Nadhim Zahawi, Chancellor of the Exchequer, stated: “I am thrilled that David Roberts is assuming this crucial and hard responsibility.
His expertise will be crucial as the Bank’s Court does its crucial work in the coming months and years.
The Bank of England’s Governor, Andrew Bailey, said: “I am pleased that David Roberts has been named as our new Chair of Court.
I have no doubt that he will build on the great leadership demonstrated by Brad Fried in this post, which is crucial to the governance of the Bank and the vitality of the Bank in general.
David will provide the court a welcome new viewpoint, and I am looking forward to working with him.
“I am genuinely honoured to join the Bank as Chair and look forward to working with Andrew Bailey, my fellow Directors, and the whole Bank team to achieve the organization’s primary objective for the British public,” David Roberts stated.
Concerning the appointment
The Bank of England serves as the UK’s central bank.
The Court of Directors, the board of directors, is in charge of running it. On the Bank of England website, you may get further details.
On the advice of the Prime Minister and the Chancellor of the Exchequer, Her Majesty the Queen appoints all members of the Court.
Political activity has no bearing on the selection process for the Court; all appointments are based solely on merit.
However, it is necessary to make the political activity (if any is declared) of appointees public in accordance with the original Nolan recommendations.
David Roberts has acknowledged that throughout the past five years, he has not participated in any political action.
The Commissioner for Public Appointments, who offers impartial assurance that appointments are made in accordance with the Government’s Principles of Public Appointments and Governance Code, controls the appointment of Mr. Roberts as Chair of Court.
Regarding David Roberts
At the moment, David Roberts chairs the specialty insurance company Beazley plc.
He will resign from this position in order to become the Bank’s Chair of Court.
Prior to that, he served as Group Deputy Chair of Lloyds Banking Group plc, Vice Chair of NHS England, and Chair of Nationwide Building Society.
He spent 24 years working for Barclays, where he held a number of important positions, including main board executive director and CEO of international retail & commercial banking.