PRESS RELEASE : Jonathan Bewes appointed as Non-Executive Director to the Court of the Bank of England [September 2023]

The press release issued by HM Treasury on 11 September 2023.

In this role Jonathan will also become the Chair of the Court’s Audit and Risk Committee and will take up the role later this Autumn.

The Chancellor has announced that Jonathan Bewes has been appointed as a new Non-Executive Director of the Court of the Bank of England, and will become the Chair of the Court’s Audit and Risk Committee. His Majesty The King has approved the appointment.

Jonathan will take up his role in Autumn 2023 for a term lasting four years.

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 Audit and Risk Committee assists Court in meeting its responsibilities for an effective system of risk management, internal control and financial reporting, among other duties.

David Roberts, the Chair of the Bank’s Court, said:

“I am delighted to welcome Jonathan Bewes to the Bank of England’s Court of Directors. Jonathan will Chair the Bank’s Audit and Risk Committee, a sub-Committee of Court. Jonathan’s extensive experience, expertise and skills will provide both Committees and the Bank with key insights and challenge.”

About the appointments

The Bank of England is the central bank of the UK. It is governed by the board of directors known as the Court of Directors. Further information can be found at the Bank of England website.

All members of Court are appointed by His Majesty the King, on the recommendation of the Prime Minister and the Chancellor of the Exchequer.

Public appointments are made on merit following a fair and open competition process. In accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity (if any is declared) to be made public. Jonathan has confirmed he has not engaged in any political activity in the last five years

This appointment is regulated by the Commissioner for Public Appointments, who provides independent assurance that appointments are made in accordance with the Government’s Principles of Public Appointments and Governance Code.

About Jonathan Bewes

Since qualifying as a Chartered Accountant with KPMG, Jonathan has spent over 30 years in the Banking Industry. The majority of this time was spent with Robert Fleming, UBS and Bank of America Merrill Lynch acting as an Investment Banking adviser to the Boards of large, predominantly U.K. public companies on a wide range of financial, strategic and governance issues. From 2017 until earlier this year, he served as Vice Chairman, Corporate and Institutional Banking at Standard Chartered Bank. Jonathan also sits on the Board of Next plc, where he is the Senior Independent Director and chairs the Audit Committee and on the Board of Sage Group plc, where he chairs the Audit and Risk Committee