After a period working in the oil industry, he taught economics at Oxford University and was Drummond Professor of Political Economy from 1991 to 2008. His visiting academic posts have also included the London Business School, the Woodrow Wilson School at Princeton University and the Kennedy School of Government at Harvard University. He was President of the Institute for Fiscal Studies, 2003–2007, and of the Royal Economic Society, 2007–10.
From 1998–2000 he was Chief Economist at the Bank of England and a member of the Monetary Policy Committee. From 2000–05 he was Director General/Chairman of the Office of Fair Trading. He was knighted in 2005.
Since October 2008, he has been Warden of All Souls College, Oxford.
In June 2010, he became Chair of the UK's newly created Independent Commission on Banking (ICB). The ICB's task is to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition (in the aftermath of the banking crisis of 2008). The commission made its recommendations to the UK government in September 2011, recommending a number of important measures, namely the introduction of the ring fencing of retail from investment banking, keeping 17-20% of certain assets as "loss-absorbers", using Lloyds branch sale as opportunity to bring in competitor and the implementation of a new system to help customers switch current accounts. The reforms are to be implemented by 2019 at the latest at a cost to the banks of between £4bn-7bn.
In the autumn of 2011, he returned to teaching at Oxford. He currently teaches the first-year undergraduate Introductory Macroeconomics course.
Research and publications
John Vickers has written widely on economic topics. His current research concerns the economics of competition and regulation.
- "Sir John Vickers to Chair the Independent Commission on Banking". HM Treasury. 2010-06-16. Retrieved 2011-09-12.
- "Banks face major reorganisation". BBC News (BBC). 12 December 2011. Retrieved 12 September 2011.
- "Oxford University, Department of Economics | John Vickers". Economics.ox.ac.uk. Retrieved 2011-09-12.
|The Bank of England's Monetary Policy Committee|
|Governor: Sir Edward George (June 1997–June 2003)|
|June 1998 – May 1999:||George | King | Buiter | Goodhart | Plenderleith | Clementi | Julius | Budd | Vickers|
|June 1999 – May 2000:||George | King | Buiter | Goodhart | Plenderleith | Clementi | Julius | Vickers | Wadhwani|
|June 2000 – September 2000:||George | King | Plenderleith | Clementi | Julius | Vickers | Wadhwani | Allsopp | Nickell|
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