Trade union boss among Chancellor’s appointments to Bank of England board
Paul Nowak joins the Bank of England’s oversight board as Chancellor John Healey names three non-executive directors on four-year terms.
- Chancellor John Healey appointed Trades Union Congress general secretary Paul Nowak to the Bank's Court on a four-year term as a non-executive director.
- Refinitiv founder David Craig and City investment manager Hanneke Smits also received four-year appointments from Healey, strengthening the Court at a critical economic moment.
- A former call centre worker and trade unionist, Nowak became TUC general secretary in 2022, succeeding Baroness Frances as the Court's non-executive director.
- Recently, Nowak championed taxing bank profits to support households. He stated Wednesday: "Taxing bank profits to cut bills is plain common sense."
- The Court oversees the Bank's strategy, governance, budget, and risk framework, functioning separately from the team setting interest rates in Britain.
11 Articles
11 Articles
Healey Appoints Trades Union Congress Boss Paul Nowak to Bank of England Board of Directors
Trades Union Congress boss Paul Nowak has been appointed by John Healey as a non-executive director on the Bank of England’s Court of Directors. Which functions as the bank’s board… Nowak will contribute to the BoE’s “strategy, governance, budget and risk framework, and for ensuring the effective discharge of the Bank’s statutory functions.” The government…
Paul Nowak Joins the Bank of England’s Court, but He Will Not Set Interest Rates
Paul Nowak will join the Bank of England’s governing board, not the committee that votes on UK interest rates. The distinction matters one day before the central bank’s September policy decision. HM Treasury said on September 16 that the Trades Union Congress general secretary had been appointed as a non-executive director of the Bank’s Court…
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