The Chancellor of the Exchequer, Philip Hammond, has today announced the appointment of Elisabeth Stheeman as an external member of the Financial Policy Committee (FPC).
Elisabeth Stheemans appointment fills the external position on the FPC created by Dame Clara Furse, who stepped down in November 2016. Elisabeth will serve a three year term, which will begin in early 2018.
The Chancellor of the Exchequer, Philip Hammond said:
I am pleased to announce the appointment of Elisabeth Stheeman to the Financial Policy Committee of the Bank of England. Elisabeth has had an impressive career in financial services and will deliver invaluable experience to the FPCs work. I wish her well in her new role.
Governor of the Bank of England, Mark Carney said:
I am delighted to welcome Elisabeth Stheeman to the Financial Policy Committee. The FPC will benefit greatly from Elisabeths extensive and varied experience in financial services. In particular, her wealth of experience within the asset management and investment banking industries will bring fresh perspectives to the FPCs policy deliberations. I look forward to working closely with her and the rest of the FPC to promote the good of the people of the United Kingdom by maintaining financial stability.
Elisabeth Stheeman is an external adviser to the Bank of England, providing independent advice and senior industry expertise to the Prudential Regulation Authority. Elisabeth is also a current member of the supervisory boards of Aareal Bank AG and TLG Immobilien AG in Germany and Korian SA in France.
Prior to this, Elisabeth has worked for over 25 years in the financial services industry, including roles as a Chief Operating Officer in Investment Banking at Morgan Stanley (2007 to 2012), and as a Global Chief Operating Officer for LaSalle Investment Management (2013 to 2014). Elisabeths expertise extends across a wide range of areas including capital markets, investment banking, real estate and private equity.
About the Financial Policy Committee
The FPC was established in 2013 and is a vital part of the governments system of financial regulation.
The FPC is the UKs macroprudential regulator: its objective is to protect and enhance the stability of the UKs financial system by identifying, monitoring and addressing systemic risks.
The FPC works with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to address risks to the financial system as a whole, while the PRA and FCA have responsibility for microprudential and conduct regulation of individual firms, respectively.