Professor Stephen Blyth has been appointed, and Dr Randall
Kroszner reappointed, as external members of the Financial Policy
Committee (FPC) by the Chancellor of the Exchequer, .
The Chancellor of the Exchequer, , has today (4 September)
announced the appointment of Professor Stephen Blyth as an
external member of the Financial Policy Committee.
Professor Stephen Blyth is a British mathematician and academic
who has served as Principal of Lady Margaret Hall, Oxford, since
October 2022. He was previously Professor of the Practice of
Statistics at Harvard University and Chief Executive Officer of
Harvard Management Company (HMC) between January 2015 and July
2016. Professor Blyth brings substantial expertise in academia
and financial management to the Court. He has been appointed to
the external NED position previously held by Dame Colette Bowe,
following the completion of her second term and her departure
from the Committee at the end of August 2025. Professor Blyth
will serve a three-year term commencing in Autumn 2025.
The Chancellor has also reappointed Dr Randall Kroszner for a
second term on the FPC, beginning on 1 February 2026. Dr Kroszner
has over thirty years of experience in financial stability and
regulatory policy issues, across both the public sector and
academia.
Economic Secretary to the Treasury, , said:
I am pleased to announce the appointment of Professor Stephen
Blyth to the Financial Policy Committee. Financial stability is
the bedrock for growth, and Stephen's extensive experience will
strengthen the UK.
I would also like to express my gratitude to Dame Colette Bowe
for her valuable contribution to the Committee's work over the
past six years.
The Governor of the Bank of England, Andrew Bailey,
said:
I am pleased to welcome Professor Stephen Blyth to the Financial
Policy Committee. His distinguished experience in academic
leadership and financial management will be of great value to the
Committee's work. I am also delighted that Professor Randall
Kroszner will continue to serve on the FPC. His insight and
continuity will ensure the Committee remains well equipped to
meet its important responsibilities for UK financial stability.
Further information
Professor Stephen Blyth, a British mathematician and financial
markets academic, became Principal of Lady Margaret Hall in
October 2022 after sixteen years in the US, including roles at
Harvard University and as Chief Executive Officer of Harvard
Management Company. Previously, he was Managing Director at both
Deutsche Bank in London and Morgan Stanley in New York.
About the appointment process
Professor Blyth has been appointed following an open recruitment
process. A panel comprising Gwyneth Nurse (non-voting member of
the FPC and Director General of Financial Services, HM Treasury),
Jonathan Hall (external member of the FPC), and Flint (independent panel member)
interviewed a number of candidates and made recommendations to
the Chancellor, which informed her decision.
Professor Blyth confirmed he has not engaged in any political
activity in the last five years.
