Former Bank Deputy Governor Paul Tucker Receives Knighthood

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BUSINESS 31 December 2013 Former Bank deputy governor Paul Tucker receives knighthood Paul Tucker, who served as a deputy governor at the Bank of England, has been given a knighthood for services to central banking. Sir Paul lost out to Canadian Mark Carney for the top job when Mervyn King left as governor. He left the Bank to take up a senior fellowship at Harvard after more than 30 years at the Bank. Other figures in business and economics in the New Year's Honours List include Karren Brady and Prof John Kay. Sir Paul was caught up in the controversy over the alleged manipulation of the benchmark Libor interbank lending rate earlier in the year when the former Barclays boss, Bob Diamond, published a record of a contentious phone-call with him made in 2008. Sir Paul strongly denied he had implied Barclays could manipulate its borrowing costs down and a committee of MPs agreed that there was no evidence of deliberate wrongdoing. He joined the Bank of England in 1980 after graduating from Cambridge and in 2002 became executive director for markets before becoming deputy governor for financial stability in 2009. Sir Paul's efforts in bracing the financial system against future banking collapses have been well received. Economics The chief executive of stores chain Kingfisher, Ian Cheshire, also received a knighthood for services to business, sustainability and the environment. Karren Brady, who is vice chair of West Ham Football Club, was given a CBE for services to entrepreneurship and women in business. Professor Kay, who holds the chair of economics at LSE and is a regular contributor to the Financial Times, was created a CBE for services to economics. Peter Hargreaves, the co-founder of investment services provider, Hargreaves Lansdown was also created a CBE for services to business, innovation, financial services and to the city of Bristol, where the business is based. Phoebe Philo. creative director, of fashion brand Celine, was given an OBE for services to fashion and Alison Carnwath, of property group, Land Securities, is made a dame. .

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