{"id":3790,"date":"2022-04-26T16:21:00","date_gmt":"2022-04-26T15:21:00","guid":{"rendered":"https:\/\/finseta.com\/?p=3790"},"modified":"2022-05-31T18:23:13","modified_gmt":"2022-05-31T17:23:13","slug":"bank-of-england-governor-figurehead-or-chief-executive","status":"publish","type":"post","link":"https:\/\/finseta.com\/ca-en\/bank-of-england-governor-figurehead-or-chief-executive\/","title":{"rendered":"Bank of England Governor- Figurehead or Chief Executive?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3790\" class=\"elementor elementor-3790\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5e4f81e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5e4f81e5\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-74374b8\" data-id=\"74374b8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-232875ea elementor-widget elementor-widget-image\" data-id=\"232875ea\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"300\" height=\"195\" src=\"https:\/\/finseta.com\/wp-content\/uploads\/2022\/04\/Andrew_Bailey.jpeg\" class=\"attachment-full size-full wp-image-3868\" alt=\"\" data-attachment-id=\"3868\" data-permalink=\"https:\/\/finseta.com\/bank-of-england-governor-figurehead-or-chief-executive\/andrew_bailey\/\" data-orig-file=\"https:\/\/finseta.com\/wp-content\/uploads\/2022\/04\/Andrew_Bailey.jpeg\" data-orig-size=\"300,195\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Andrew_Bailey\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/finseta.com\/wp-content\/uploads\/2022\/04\/Andrew_Bailey.jpeg\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Current Governor: Andrew Bailey<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-31f47f8a\" data-id=\"31f47f8a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-354131d7 elementor-widget elementor-widget-text-editor\" data-id=\"354131d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p id=\"0b3b\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">The Governor of the Bank of England is a pretty old role. It has been around since the bank was founded way back when.<\/p><p id=\"2a56\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">The first Governor Sir John Houblon was appointed in the year\u00a0<strong class=\"jw in\">1694<\/strong>\u00a0during the reign of King William III and Queen Mary II!<\/p><p id=\"0edc\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">It\u2019s worth remembering that initially, the Bank of England was a private institution.<\/p><p id=\"c4d1\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">It was founded to help fund the Government with the Monarchy being the main shareholders.<\/p><p id=\"d60e\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">(It was always though regulated by government rules and regulations.)<\/p><p id=\"c868\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">In 1946, the Bank was formally nationalised and bought under Government control by the post-war Attlee government.<\/p><p id=\"e3b1\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">Despite having the more symbolic title of Governor, the role is actually much more akin to a Company CEO than a political or symbolic role. They are appointed by the monarch on the recommendation of the Chancellor of the Exchequer and the Prime Minister.<\/p><p id=\"e6fb\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">According to the Bank of England website :<\/p><blockquote class=\"ks kt ku\"><p id=\"3de6\" class=\"ju jv kv jw b jx jy jz ka kb kc kd ke kw kg kh ki kx kk kl km ky ko kp kq kr if gn\" data-selectable-paragraph=\"\">The governors\u00a0<em class=\"im\">[the governor and his deputies]\u00a0<\/em>serve as the Bank\u2019s top level executive team, and are responsible, in conjunction with the Bank\u2019s policy committees, for overseeing the fulfilment of the Bank\u2019s mission.<\/p><\/blockquote><p id=\"1fe6\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">In their role, the Governor oversees the main policy areas and chairs key decision making policy committees.<\/p><p id=\"4704\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">Many people have commented that the Governor in fact could be too powerful. The role is a hefty one, hence the nearly half a million pound annual salary!<\/p><p id=\"14de\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">As well as formal policy roles, the Governor also has a lot of \u2018soft power.\u2019 The pound has been known to rise and fall on the basis of their words.<\/p><p id=\"be39\" class=\"pw-post-body-paragraph ju jv im jw b jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ko kp kq kr if gn\" data-selectable-paragraph=\"\">The current Governor is Mark Bailey, former CEO of the Financial Conduct Authority. His term is 16 March 2020 to 15 March 2028.<\/p><p data-selectable-paragraph=\"\">&#8211;<\/p><p data-selectable-paragraph=\"\">(Note- Andrew Bailey image copyright: Uk Government, OGL3 via WikiCommons)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38e690bf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"38e690bf\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-69ed62c7\" data-id=\"69ed62c7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2d9d6936 elementor-widget elementor-widget-spacer\" data-id=\"2d9d6936\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Current Governor: Andrew Bailey The Governor of the Bank of England is a pretty old role. It has been around since the bank was founded way back when. The first Governor Sir John Houblon was appointed in the year\u00a01694\u00a0during the reign of King William III and Queen Mary II! It\u2019s worth remembering that initially, the [&hellip;]<\/p>\n","protected":false},"author":221728552,"featured_media":3815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[1370],"tags":[1483,1398],"class_list":["post-3790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-gbp","tag-uk"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bank of England Governor- Figurehead or Chief Executive? - Finseta<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/finseta.com\/ca-en\/bank-of-england-governor-figurehead-or-chief-executive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of England Governor- Figurehead or Chief Executive?\" \/>\n<meta property=\"og:description\" content=\"Current Governor: Andrew Bailey The Governor of the Bank of England is a pretty old role. 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