Her Majesty The Queen has been pleased to approve the re-appointment of Charles Richard Bean as Deputy Governor of the Bank of England for Monetary Stability from 1 July 2013.
Mr Bean has agreed to stay on for a year to help oversee the extension of the Bank of England’s responsibilities and the transition to the new Governor. He has asked to stand down on 30 June 2014.
The Chancellor of the Exchequer, the Rt Hon George Osborne MP, said:
Charlie Bean is a world class macroeconomist and a powerful voice on the Monetary Policy Committee. I am most grateful to him for his continuing service.
Notes for editors
Charlie Bean became Deputy Governor on 1 July 2008. Prior to that, he was Executive Director and Chief Economist from 1 October 2000. In addition to his membership of the Monetary Policy Committee and Financial Policy Committee, he has specific responsibility within the Bank for Monetary Policy, including monetary analysis and market operations.
After a spell in HM Treasury (1975-79 & 1981-82), Charlie Bean joined the London School of Economics as a lecturer in 1982, becoming Professor of Economics in 1990 and Head of Department in 1999. He was visiting Professor at Stanford University in 1990. He has published widely, in both professional journals and more popular media, on European unemployment, on European Monetary Union, and on macroeconomics generally. He has served on the boards of several academic journals, and was Managing Editor of the Review of Economic Studies (1986-90). He has also served in a variety of public policy roles, including: as consultant to HM Treasury; as special adviser to both the Treasury Committee of the House of Commons and to the Economic and Monetary Affairs Committee of the European Parliament; and as special adviser to the House of Lords enquiry into the European Central Bank. Charlie Bean is President-elect of the Royal Economic Society. He studied at Emmanuel College, Cambridge. (B.A., First Class Honours in Economics and Mathematics, 1975. M.A., 1979.) Massachusetts Institute of Technology (PhD, 1981. Harkness Fellow, 1979-80). Charlie was born on 16 September, 1953.
The appointment of Charlie Bean was made by the Queen on the advice of the Prime Minister and Chancellor, under the terms of the Bank of England Act 1998 as amended by the Banking Act 2009. The appointment is for a five year term, although Charlie Bean has asked to stand down on 30 June 2014. The appointment carries with it membership of the Monetary Policy Committee.