Professor Stephen Blyth has been appointed, and Dr Randall Kroszner reappointed, as external members of the Financial Policy Committee (FPC) by the Chancellor of the Exchequer, Rachel Reeves.
The Chancellor of the Exchequer, Rachel Reeves, has today (4 September) announced the appointment of Professor Stephen Blyth as an external member of the Financial Policy Committee.
Professor Stephen Blyth is a British mathematician and academic who has served as Principal of Lady Margaret Hall, Oxford, since October 2022. He was previously Professor of the Practice of Statistics at Harvard University and Chief Executive Officer of Harvard Management Company (HMC) between January 2015 and July 2016. Professor Blyth brings substantial expertise in academia and financial management to the Court. He has been appointed to the external NED position previously held by Dame Colette Bowe, following the completion of her second term and her departure from the Committee at the end of August 2025. Professor Blyth will serve a three-year term commencing in Autumn 2025.
The Chancellor has also reappointed Dr Randall Kroszner for a second term on the FPC, beginning on 1 February 2026. Dr Kroszner has over thirty years of experience in financial stability and regulatory policy issues, across both the public sector and academia.
Economic Secretary to the Treasury, Emma Reynolds, 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.
I would also like to express my gratitude to Dame Colette Bowe for her valuable contribution to the Committee’s work over the past six years.
The Governor of the Bank of England, Andrew Bailey, said
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. I am also delighted that Professor Randall Kroszner will continue to serve on the FPC. His insight and continuity will ensure the Committee remains well equipped to meet its important responsibilities for UK financial stability.
Further information
Professor Stephen Blyth, a British mathematician and financial markets academic, became Principal of Lady Margaret Hall in October 2022 after sixteen years in the US, including roles at Harvard University and as Chief Executive Officer of Harvard Management Company. Previously, he was Managing Director at both Deutsche Bank in London and Morgan Stanley in New York.
About the appointment process
Professor Blyth has been appointed following an open recruitment process. A panel comprising Gwyneth Nurse (non-voting member of the FPC and Director General of Financial Services, HM Treasury), Jonathan Hall (external member of the FPC), and Douglas Flint (independent panel member) interviewed a number of candidates and made recommendations to the Chancellor, which informed her decision.
Professor Blyth confirmed he has not engaged in any political activity in the last five years.
