Lord Jitesh Gadhia appointed as non-executive director of the Bank of England along with two others
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Lord Jitesh Gadhia, who has over 25 years investment banking and financial services experience, having held senior positions at Blackstone, Barclays Capital, ABN AMRO and Baring Brothers, has been appointed as one of the three non-executive directors to the Court of the Bank of England.
Lord Gadhia has been appointed alongside Sabine Chalmers and Tom Shropshire, an official statement revealed on Tuesday, 18 October. The appointments were approved by the late Queen and will be made by the King in the upcoming months in the Bank’s Court, after which they will assume the role.
The Bank’s Court acts as the governing body responsible for setting the organisation’s strategy, budget and taking key decisions on resourcing and appointments. The Court is not responsible for the matters reserved to the Bank’s main policy committees, the Monetary Policy Committee, the Financial Policy Committee and Prudential Regulation Committee.
Lord Gadhia currently serves on the boards of Rolls-Royce Holdings plc, Taylor Wimpey plc and Compare The Market Limited. He previously served on the boards of UK Financial Investments Limited (UKFI) and UK Government Investments Limited (UKGI).
Jeremy Hunt, the Chancellor of the Exchequer, said, “I am delighted to be able to announce the appointment of Lord Jitesh Gadhia, Sabine Chalmers and Tom Shropshire. Each of them will bring immense skill and experience to the Bank’s Court.”
“I look forward to continuing to work closely with the Bank’s leadership, and remain fully committed to its independence.”
Chalmers is General Counsel, Company Secretary, and Director of Regulatory Affairs at BT. Sabine was previously Chief Legal and Corporate Affairs Officer and Company Secretary of Anheuser-Busch InBev. Sabine is currently a Non-Executive Director at Anheuser-Busch InBev and has also served as a Non-Executive Director at Coty.
Shropshire is the General Counsel & Company Secretary of Diageo plc. Prior to this, Shropshire was a Partner at Linklaters LLP, where he was Global Head of the US Practice, Founder & Co-Head of the Risk & Resilience Practice and a member of their Executive Committee.
Andrew Bailey, Governor of the Bank of England, said, “I am very pleased to welcome Lord Jitesh Gadhia, Sabine Chalmers and Tom Shropshire as Non-Executive Directors of Court. Their varied experiences make them invaluable additions to Court and the running of the Bank. I look forward to working with them all.”
David Roberts, incoming Chair of Court, said, “I am delighted to welcome Jitesh, Tom and Sabine to the Bank’s Court of Directors. They will bring fresh insights, deep wisdom and wide experience to help Court fulfil its role of promoting the good of the people of the United Kingdom.”