Paul Tucker Executive Director, Markets, Bank of England
Wednesday 29th October 1:00pm

Paul was appointed as Executive Director, Markets, for the Bank of England on 1 June 2002. He is a member of the Monetary Policy Committee and has executive responsibility for (i) the Bank’s implementation of monetary policy via open market operations, the Bank’s foreign exchange market operations, including management of HMG’s foreign currency reserves, and related risk management; and (ii) for market intelligence and analysis supporting the Bank’s monetary and financial stability core purposes. He is a member of the Governor’s Executive Team, the Bank’s Asset and Liability Committee, and of the Financial Markets Law Committee. He chairs London’s Money Markets Liaison Group.

From 1980-1989 Paul worked as a banking supervisor; a corporate financier at a merchant bank; and on projects to reform the Hong Kong securities markets and regulatory system following the 1987 crash, and then the UK’s wholesale payments system, leading to the introduction of real-time gross settlement. He was Principal Private Secretary to Bank of England Governor Leigh-Pemberton for 3? years until 1993, from where he moved to the domestic market operations area. He became Head of Gilt-Edged & Money Markets Division in mid-1994, during the period of reforms in the gilt and sterling money markets. He was Head of Monetary Assessment and Strategy Division 1997-1998, which is responsible for assessing UK monetary conditions and issues concerning the monetary framework. From January 1999, he was Deputy Director, Financial Stability, and was closely involved with the Bank’s Financial Stability Review; and a member of the Bank’s Management Committee. From May 1997 until his current appointment, he was on the Secretariat of the Monetary Policy Committee, preparing the published minutes.