Former Bank of England Governor, Leigh-Pemberton, dies

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Robin Leigh-PembertonFormer Bank of England (BoE) Governor, Robin Leigh-Pemberton, has died at the age of 86, a statement from the bank said on Monday.

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Leigh-Pemberton, who was in charge of the Central Bank during the Black Wednesday sterling crisis more than 20 years ago, was governor of the bank from 1983 to 1993 and had served as Chairman of National Westminster Bank and of several industrial companies.

After sterling was forced out of the Exchange Rate Mechanism in 1992, Leigh-Pemberton argued in favour of BoE independence from the government, something the central bank was granted five years later.

Leigh-Pemberton had to deal with the discovery of fraud at the Bank of Credit and Commerce International, which was under the BoE’s supervision.

In 1991, he invited Mervyn King to join the BoE as its chief economist and King went on to serve as governor between 2003 and earlier this year.

“A tall, imposing and cheerful man, Robin had a talent for inspiring and persuading others to work for him,” King said. “A born captain, he will be remembered with deep affection by the members of his team.” (Reuters/NAN)

Babatunde Akinsola
Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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