Deputy Governor of The Bank of England
In early January 2006, Gieve was appointed as the new "Deputy Governor for Financial Stability" of the Bank of England. The appointment was for a five year term, and carried with it membership of the influential Monetary Policy Committee.
On 30 April 2006, the UK's The Independent newspaper reported that Gieve was being pressed to resign from the Bank of England because of financial mis-management at the Home Office during his period as Permanent Secretary, and his involvement in the released prisoners affair. There was concern that Gieve was not a City insider and that he did not have sufficient technical knowledge for the role. It is not clear who was "pressing" for his resignation - just an assertion in a newspaper.
On 18 June 2008, the Bank of England announced that Gieve would be stepping down in 2009, two years early, after his work to reform the Bank to take on formal and legal responsibility for financial stability was complete.
Read more about this topic: John Gieve
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