Rachel Lomax
Janis Rachel Lomax (born 15 July 1945) is a British economist, banker, and former government official who served as Deputy Governor of the Bank of England, sitting on the Monetary Policy Committee from 1 July 2003 to 30 June 2008.[1]
Early life
Lomax was born in Swansea, Wales. After attending Rossall Preparatory School and Cheltenham Ladies' College, she graduated from Girton College, Cambridge, with an MA in 1966, and obtained an MSc in economics from the London School of Economics in 1968.[2]
Career
After graduating from LSE in 1968, she joined HM Treasury, where she worked on a range of macroeconomic, monetary, and financial issues. She was in succession Principal Private Secretary to the Chancellor of the Exchequer Nigel Lawson in 1985–86, then a deputy secretary at the Treasury, and then Deputy Chief Economic Adviser in 1990–94. In 1994–95, she was head of the Economic and Domestic Secretariat at the Cabinet Office.[2]
From 1995 to 1996, she was a vice-president of the World Bank and chief of staff to the President of the World Bank. From 1996 to 2003 she was in turns permanent secretary at four government departments. She was permanent secretary at the Welsh Office from 1996 to 1999, where she oversaw the setting up of the National Assembly for Wales. Afterwards, from 1999 to 2002, Lomax was permanent secretary of the Department of Social Security and then from 2001 its successor, the Department for Work and Pensions. Then in 2002–2003 Lomax served as Permanent Secretary at the Department for Transport, having moved there with her Secretary of State Alistair Darling when prime minister Tony Blair reshuffled his cabinet following the resignation—in highly charged and controversial circumstances—of the Secretary of State for Transport Stephen Byers.[2]
From 2003 to 2008 she was a deputy governor at the Bank of England, serving on its Monetary Policy Committee, where she was "one of the more moderate, centrist figures".[3] She left "just before the collapse of Lehman Brothers in 2008"[4] reportedly to "pursue other interests".[3]
In December 2008, she became an independent non-executive director of HSBC Holdings,[5] where she is also a member of the audit and risk committees.[6] In December 2010 she joined BAA (now Heathrow Airport Holdings) as a non-executive director, and she is also a non-executive director of Serco, and a trustee of Imperial College London, and has served as President of the Institute of Fiscal Studies.[7]
Personal life
![]() | This section of a biography of a living person does not include any references or sources. (April 2016) |
Lomax is on the Board of the Royal National Theatre and of De Montfort University in Leicester. In June 2007 she received an honorary degree from the University of Glasgow.
She married Michael Acworth Lomax in 1967; they divorced in 1990. The couple has two sons.
Offices held
References
- ^ "Rachel Lomax". Bank of England. Archived from the original on 12 March 2008. Retrieved 3 April 2010.
- ^ a b c Denny, Charlotte (22 November 2003). "Interview: Rachel Lomax". The Guardian.
- ^ a b Foxwell, Andrew (19 May 2008). "Rachel Lomax to leave Bank of England, sparking Treasury row". The Telegraph. Retrieved 20 February 2016.
- ^ "Rachel Lomax says 'no' to Bank of England boss post". BBC News. 18 September 2012. Retrieved 20 February 2016.
- ^ Janis Rachel Lomax works at HSBC HOLDINGS PLC since 1 December 2008, currently as a Director, cbetta.com. Retrieved 20 February 2016.
- ^ "About Rachel Lomax". HSBC. Retrieved 20 February 2016.
- ^ "Rachel Lomax". Chatham House.
External links
Template:Start Monetary Policy Committee Template:Monetary Policy Committee composition bank lifespan Template:Monetary Policy Committee composition July 2003 – June 2005 Template:Monetary Policy Committee composition July 2005 – January 2006 Template:Monetary Policy Committee composition February 2006 – March 2006 Template:Monetary Policy Committee composition April 2006 – May 2006 Template:Monetary Policy Committee composition June 2006 Template:Monetary Policy Committee composition July–August 2006 Template:Monetary Policy Committee composition September 2006 Template:Monetary Policy Committee composition October 2006 – June 2008 Template:End Monetary Policy Committee composition
- 1945 births
- Living people
- Alumni of Girton College, Cambridge
- Alumni of the London School of Economics
- British economists
- British women bankers
- British women economists
- Civil servants in HM Treasury
- Civil servants in the Cabinet Office
- Deputy Governors of the Bank of England
- Fellows of Girton College, Cambridge
- HSBC people
- Members of HM Government Economic Service
- People educated at Cheltenham Ladies' College
- People educated at Rossall School
- People from Swansea
- Permanent Under-Secretaries of State for Wales
- Permanent Under-Secretaries of State for Social Security
- Permanent Under-Secretaries of State for Work and Pensions
- Permanent Under-Secretaries of State for Transport, Local Government and the Regions
- Permanent Under-Secretaries of State for Transport
- Private secretaries in the British Civil Service
- Welsh economists