Statement by the Bank of England

Sir John Gieve has decided he will leave the Bank next year once changes to the Bank's responsibilities have been made , including responsibility for a new Special Resolution Regime for failing banks.
Published on 18 June 2008

Mervyn King, Governor of the Bank of England, said "I am grateful to John for his hard work and loyalty. In particular since the events of last summer, John has played a major role in delivering the new framework. I can understand why he does not want to assume the new position, but I am very glad he is staying on to see us through until the bill is law."

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