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Home > Publications > Freedom of Information - disclosures
 

Freedom of Information - disclosures

Subject/Request Details: Details of Bank leaving gifts and events to mark the departing Bank of England Governor Sir Mervyn King

Date Released: 7 August 2013
 
Disclosure:
 
The Bank of England (the ‘Bank’) arranged three events to mark Mervyn King’s departure: a reception on 26 June (approximately 350 guests), and dinners on 27 and 28 June (24 and 43 guests respectively).  All were held in the Bank. The total costs of these events was £13,423. A breakdown of the costs of the events is as follows:
 
Evening Reception, 26 June: £4,672
Dinner, 27 June: £3,450
Dinner, 28 June: £3,800
Flowers/Invitations for all of the above: £1,501.
 
The cost of leaving gifts presented to the Governor by the Bank amounted to £13,102.  The breakdown is as follows:
 
  1. As is normal for all departing members of Court, the Bank presented the Governor with a silver napkin ring, a replica of those traditionally used in the Directors’ dining room at the Bank. This cost £597.
  2. As with previous retiring Governors, the Bank commissioned a portrait of Governor King, and presented him with a copy. This cost £10,000.
  3. In addition, the Governor received a replica bust of Johann von Goethe. This cost £2,505.
 
These costs were met by the Bank, with the approval of the Court of Directors.