Biography
Rhys Phillips will be the next Chief Cashier and Director of Notes. He will take up the role on 19 October 2026.
He will lead work to ensure our banknotes incorporate the latest anti-counterfeiting technology, so that people can have confidence that the notes they use are genuine. He will also be responsible for delivering enough high-quality banknotes into circulation, working closely with financial institutions, suppliers and retailers; and for making sure holders of Scottish and Northern Ireland banknotes are protected if a commercial banknote issuer defaults. Rhys will chair the Bank’s Counterfeit Response Action Group; the Banknote Innovation Portfolio Board; and the committee that oversees the UK wholesale cash distribution system. He will lead the Bank’s engagement with key commercial partners and be a member of international bodies including the Central Bank Counterfeit Deterrence Group.
Rhys joined the Bank in 2012. As well as serving as Head of Sterling Markets (2018-2023) and principal Private Secretary to the Governor (2023-2026), he has also held positions in financial stability and prudential supervision. Prior to working at the Bank Rhys joined the Financial Services Authority (FSA) graduate training scheme in 2005.
Rhys is Executive Sponsor of the Bank’s Parents+ network which helps parents balance the opportunities and responsibilities of parenthood with working at the Bank.
Born and raised in South Wales, Rhys has a BSc in economics and politics from the University of Bath and an MBA from the University of Exeter.
He will lead work to ensure our banknotes incorporate the latest anti-counterfeiting technology, so that people can have confidence that the notes they use are genuine. He will also be responsible for delivering enough high-quality banknotes into circulation, working closely with financial institutions, suppliers and retailers; and for making sure holders of Scottish and Northern Ireland banknotes are protected if a commercial banknote issuer defaults. Rhys will chair the Bank’s Counterfeit Response Action Group; the Banknote Innovation Portfolio Board; and the committee that oversees the UK wholesale cash distribution system. He will lead the Bank’s engagement with key commercial partners and be a member of international bodies including the Central Bank Counterfeit Deterrence Group.
Rhys joined the Bank in 2012. As well as serving as Head of Sterling Markets (2018-2023) and principal Private Secretary to the Governor (2023-2026), he has also held positions in financial stability and prudential supervision. Prior to working at the Bank Rhys joined the Financial Services Authority (FSA) graduate training scheme in 2005.
Rhys is Executive Sponsor of the Bank’s Parents+ network which helps parents balance the opportunities and responsibilities of parenthood with working at the Bank.
Born and raised in South Wales, Rhys has a BSc in economics and politics from the University of Bath and an MBA from the University of Exeter.
This page was last updated 06 July 2026