Mr Hall has 25 years’ experience working in the financial
markets, most recently as Portfolio Manager at Eisler
Capital. He will serve a three-year term, which will begin
on 1 September 2020. His appointment fills the position
previously held by Martin Taylor, who stepped down from the
Committee at the end of March 2020.
The Chancellor of the Exchequer, , said:
The role of the FPC in enhancing and protecting the
stability of the UK’s financial system has never been
more important, and having highly qualified people on the
committee is key. That’s why I’m very pleased to welcome
Jonathan to the role. His wide-ranging expertise and
experience built up over years working in financial
markets will be hugely beneficial as we work to open up
the economy following the Coronavirus pandemic,
underpinned and supported by our world-leading financial
system.
The Governor of the Bank of England, Andrew Bailey, said:
Jonathan has a wealth of experience and I look forward to
welcoming him to the FPC. As a committee, more than ever
as we address the economic challenges of the pandemic, we
need to protect and enhance the resilience of the UK
financial system. I am certain that Jonathan’s insights
from financial markets will prove invaluable to our
financial policymaking decisions.
Jonathan Hall has previously worked as a Portfolio Manager
at Eisler Capital, where he helped establish, launch and
grow the organisation. Jonathan has also worked as an
Advisory Director at Goldman Sachs where he sat on the
Board and Executive Committee of ISDA, the Board of
Tradeweb, the Financial Stability Board Market Participants
Group on reforming Interest Rate Benchmarks, and the Bank
of England Working Group on Risk-Free Reference Rates.
Prior to this, Jonathan spent 10 years at Goldman Sachs in
London and New York. He became a Managing Director in 2006
and Partner in 2008. Before that, Jonathan worked at Credit
Suisse Financial Products in London, Tokyo, Sydney and Hong
Kong. Additionally, Jonathan is a member of the Founders
Circle of the Institute for the Future of Work (IFOW) and
is in the process of completing a PhD in Philosophy of
Mind, focusing on belief formation and
reasons-responsiveness.
About the appointment process
Jonathan Hall has been appointed following an open
recruitment process. As part of this process, HM Treasury
recruited an executive search agency. A panel comprising
Charles Roxburgh (Second Permanent Secretary, HM Treasury)
and Katharine Braddick (Director General Financial
Services, HM Treasury) and Richard Sharp (external member
of the FPC from 2013 to 2019) interviewed a number of
candidates and made recommendations to the Chancellor,
which informed his decision.
There were 62 applications, of which five candidates were
shortlisted for interview. The gender breakdown of the
applicants for this appointment is below:
|
|
Application stage
|
Shortlisted for interview
|
|
FPC External Member
|
18 women, 43 men, 1 undisclosed
|
2 women, 3 men
|
About the Financial Policy Committee
-
The FPC is the UK’s macroprudential regulator: its
objective is to protect and enhance the stability of
the UK’s financial system by identifying, monitoring
and addressing systemic risks
-
The FPC has thirteen members. Six of them are Bank of
England staff: the Governor, four Deputy Governors and
the Executive Director for Financial Stability Strategy
and Risk
-
There are also five external members who are selected
from outside the Bank for their experience and
expertise in financial services
-
The Committee also includes the Chief Executive of the
Financial Conduct Authority and one non-voting member
from HM Treasury
