News Release
Board of Banking Supervision
04 November 96
The Chancellor of the Exchequer and the Governor of the Bank of England have reappointed Mr Harry Taylor as an independent member of the Board of Banking Supervision with effect from 4 November 1996.
Notes for Editors
1 The Board operates under the Banking Act 1987. It provides advice to the Governor on the following matters:
- the general principles and policy of supervision of institutes authorised under banking supervisory legislation;
- the development and evolution of supervisory practice;
- the administration of banking supervisory legislation, including advice on individual cases;
- the structure, staffing and training of banking supervisors.
2 The Board and its members are free to take the initiative in raising matters within these areas and have right of access to the Chancellor.
3 The independent members of the Board are appointed jointly by the Governor and the Chancellor of the Exchequer. There are six independent members, the others being Sir Alan Hardcastle, Mr Peter Gerrard, Sir Dennis Weatherstone, Sir David Scholey and Sir Andrew Large. The Governor, Deputy Governor and Executive Director responsible for banking supervision are members of the Board ex-officio.
4 Mr Taylor (aged 69) was Joint General Manager of Martins Bank until its acquisition by Barclays in 1969 when he joined Manufacturers Hanover Trust Co, as a Vice President in the International Division, becoming Executive Vice Chairman in 1978 and President of the Holding Company, Manufacturers Hanover Corporation from 1982 until his retirement from the company in June 1985. He is on the boards of the subsidiaries of Bank of Bermuda in Guernsey, Isle of Man and Luxembourg and is also a director of the Private Bank and its Channel Island affiliates.
5 Mr Taylor was first appointed to the Board of Banking Supervision on 1 May 1987. He was reappointed on 4 November 1991.
