From 3 February the responsibility within the Bank for the resolution of financial firms at Deputy Governor level will transfer from the Deputy Governor for Financial Stability, Sir Jon Cunliffe, to Sir Dave Ramsden, the Deputy Governor for Markets and Banking. This reallocation of responsibilities follows Sir Jon Cunliffe’s appointment as Chair of the Bank for International Settlement’s Committee on Payments and Market Infrastructure and increasing involvement in cross border payment and central bank digital currency issues.
This is a change in Deputy Governor responsibilities only. There is no change to Bank’s Resolution Directorate and the Governor continues to be ultimately responsible for resolution.