Osborne re-appoints former bank execs on finance committee

Chancellor George Osborne has re-appointed two external members of the Bank of England’s finance committee

By Sarah.Aston

18 Dec 2014

Martin Taylor and Donald Kohn have been re-appointed as external members of the Financial Policy Committee (FPC), George Osborne has announced.

Taylor, who was chief executive of Barclays from 1993 to 1998 and advisor to Goldman Sachs International between 1999 and 2005, and Kohn, who was vice chairman for the Federal Reserve between 2002 and 2010, were due to finish their first terms on 31 March 2015.

Praising the two for their “good work”, Osborne announced that they will serve a second term on the committee.

Established in 2013, the FPC is the UK’s macroprudential regulator which monitors systematic risks to protect the stability of the UK financial system.

Osborne said: “Martin and Don have made a tremendous contribution to the work of the Financial Policy Committee during their current terms.

“Their knowledge and expertise have proved invaluable to establishing the FPC as an effective and credible macroprudential policy-making body.

“I’m pleased that Martin and Don will continue on the FPC for a further term, and am confident that they will continue their good work in helping the FPC ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed.”

Taylor and Kohn are due to start their second three-year term on 1 April 2015.



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