HM Treasury has today announced that His Majesty The King has agreed, on the recommendation of the Chancellor and Prime Minister, to appoint Sarah Breeden as Deputy Governor of the Bank of England with responsibility for Financial Stability, starting on 1 November 2023.
As the Bank’s Deputy Governor for Financial Stability, Sarah will play a crucial role in ensuring the safety and stability of the UK’s financial sector and will sit on the Financial Policy Committee (and chair it in the Governor’s absence) the Monetary Policy Committee and the Prudential Regulation Committee and play a key role in providing a link between financial stability and monetary policy.
Sarah will also be a member of the Court of the Bank of England, Chair the Financial Market Infrastructure Board, and represent the Bank of England on a number of national and international bodies.
Commenting on the appointment, the Governor of the Bank of England, Andrew Bailey, said:
'I am delighted that Sarah has been appointed as Deputy Governor for Financial Stability. She will bring a wealth of financial and economic policy knowledge to the role, both domestically and internationally.'
Sarah Breeden said:
'I am thrilled to have been appointed as Deputy Governor for Financial Stability. The Bank plays a critical role in supporting UK prosperity and having been committed to central banking and public service for my entire career, it will be an honour and a privilege to take up this role.'