Professor Stephen Blyth has been appointed, and Dr. Randall Kroszner reappointed, as external members of the Financial Policy Committee (FPC) by Rachel Reeves, the Chancellor of the Exchequer. Blyth will fill the position previously held by Dame Colette Bowe, who completed her term in August 2025. His three-year term is set to begin in Autumn 2025.
Blyth, a British mathematician and academic, has served as Principal of Lady Margaret Hall, Oxford since October 2022. He was formerly a Professor at Harvard University and CEO of Harvard Management Company from January 2015 to July 2016. His experience also includes roles at Deutsche Bank in London and Morgan Stanley in New York.
Dr. Kroszner will begin his second term on February 1, 2026. With over thirty years of experience in financial stability and regulatory policy, his expertise spans both public sector and academia.
Emma Reynolds, Economic Secretary to the Treasury, said: “I am pleased to announce the appointment of Professor Stephen Blyth to the Financial Policy Committee. Financial stability is the bedrock for growth, and Stephen’s extensive experience will strengthen the UK.” She also thanked Dame Colette Bowe for her contributions over six years.
Andrew Bailey, Governor of the Bank of England, expressed his approval: “I am pleased to welcome Professor Stephen Blyth to the Financial Policy Committee. His distinguished experience in academic leadership and financial management will be of great value to the Committee’s work.”
The selection process involved an open recruitment with interviews conducted by a panel including Gwyneth Nurse from HM Treasury and Jonathan Hall from FPC.
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