New Chair of the Court of the Bank of England is appointed

A new Chair of the Court of the Bank of England has been appointed by Her Majesty the Queen.

David Roberts is expected to take up his role at the Bank’s Court in Autumn 2022 and will succeed Sir Bradley Fried who served as Chair from June 2018 to June 2022.

The Bank’s Court acts as the governing body responsible for setting the organisation’s strategy, budget and taking key decisions on resourcing and appointments.

As Chair of the Court, Mr Roberts will be responsible for leadership of the Court and ensuring its effectiveness on all aspects of its role.

The Chancellor of the Exchequer, Nadhim Zahawi said:

“I am delighted that David Roberts is taking on this vital and demanding role.

“His knowledge and experience will be invaluable as the Bank’s Court carries out its important work in the months and years ahead.”

Andrew Bailey, Governor of the Bank of England, said:

“I am delighted that David Roberts has been appointed as our new Chair of Court. This role is key to the Bank’s governance and the life of the Bank more broadly and I have no doubt that he will build on the excellent leadership provided by Brad Fried.

“David will bring a welcome fresh perspective to Court and I look forward to working with him.”

David Roberts said:

“I am deeply honoured to be joining the Bank as Chair and look forward to working with Andrew Bailey, my fellow Directors, and the wider Bank team to deliver the organisation’s core mission for the British public.”

About the appointment

The Bank of England is the central bank of the UK. It is governed by the board of directors known as the Court of Directors. Further information can be found at the Bank of England website.

All members of Court are appointed by Her Majesty the Queen on the recommendation of the Prime Minister and the Chancellor of the Exchequer.

All appointments to the Court are made on merit and political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity (if any is declared) to be made public. David Roberts has confirmed he has not engaged in any political activity in the last five years.

The appointment of Mr Roberts as Chair of Court is regulated by the Commissioner for Public Appointments, who provides independent assurance that appointments are made in accordance with the Government’s Principles of Public Appointments and Governance Code.

About David Roberts

David Roberts currently serves as Chair of Beazley plc, a speciality insurance business. He will step down from this post to take up the role of Chair of Court at the Bank. He was previously Chair of Nationwide Building Society, Vice Chair of NHS England and Group Deputy Chair of Lloyds Banking Group plc. For 24 years he worked at Barclays, where he held a number of senior roles, including CEO of International Retail & Commercial Banking, and Main Board Executive Director.