John Gieve
Encyclopedia
Sir Edward John Watson Gieve, KCB
(born 20 February 1950) is a former British
Civil Servant
, who served as Deputy Governor for Financial Stability of the Bank of England
and an ex officio member of the Monetary Policy Committee
from 2006 to 2009.
for the Home Office
from 2001 to 2005. At the time, the Home Office was the government department responsible for law and order, including prisons and probation, policing, oversight of MI5
, and immigration and nationality matters. As Permanent Secretary, Gieve was in charge of the Department’s administrative functions and its civil servants, working to the Minister
ial team headed by the Home Secretary
. During Gieve's tenure at the Home Office, there were three Home Secretaries; Jack Straw (until 2001), David Blunkett
(2001–2004), and Charles Clarke
(from 2004). Blunkett was obliged to resign from government after a scandal involving accusations of abuse of his official position and misuse of government funds.
On 31 January 2006, after Gieve had left, the UK National Audit Office
published a report, Home Office: 2004-05 Resource Account, which was highly critical of Home Office’s accounts during the period of Gieve's tenure; the accompanying press release stated that: Later in 2006, Charles Clarke was dismissed as Home Secretary and replaced by John Reid
, who shortly after his appointment made a statement to Parliament in which he described the Home Office as "unfit for purpose".
On 30 April 2006, the UK's The Independent
newspaper reported that Gieve was being pressed to resign from the Bank of England because of financial mis-management at the Home Office during his period as Permanent Secretary, and his involvement in the released prisoners affair. There was concern that Gieve was not a City insider and that he did not have sufficient technical knowledge for the role. It is not clear who was "pressing" for his resignation - just an assertion in a newspaper.
On 18 June 2008, the Bank of England announced that Gieve would be stepping down in 2009, two years early, after his work to reform the Bank to take on formal and legal responsibility for financial stability was complete.
in Godalming, Surrey and New College, Oxford
, where he read first for a BA
degree in Philosophy, Politics and Economics, and then for an MPhil
degree in Philosophy
. He joined the Civil Service
in 1974, and has served in a number of departments. Privately, Gieve is known as a keen cyclist, footballer and golfer, and as a loyal supporter of Arsenal Football Club. He is married with two sons.
He was made a Companion of the Civil Division of the Order of the Bath
(CB) in 1999, and promoted as Knight Commander of the same Division and Order (KCB) in the 2004 New Year Honours list
.
Order of the Bath
The Most Honourable Order of the Bath is a British order of chivalry founded by George I on 18 May 1725. The name derives from the elaborate mediæval ceremony for creating a knight, which involved bathing as one of its elements. The knights so created were known as Knights of the Bath...
(born 20 February 1950) is a former British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
Civil Servant
British Civil Service
Her Majesty's Home Civil Service, also known as the Home Civil Service, is the permanent bureaucracy of Crown employees that supports Her Majesty's Government - the government of the United Kingdom, composed of a Cabinet of ministers chosen by the prime minister, as well as the devolved...
, who served as Deputy Governor for Financial Stability of the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
and an ex officio member of the Monetary Policy Committee
Monetary Policy Committee
The Monetary Policy Committee is a committee of the Bank of England, which meets for two and a half days every month to decide the official interest rate in the United Kingdom . It is also responsible for directing other aspects of the government's monetary policy framework, such as quantitative...
from 2006 to 2009.
Permanent Secretary at the Home Office
Gieve served as Permanent SecretaryPermanent Secretary
The Permanent secretary, in most departments officially titled the permanent under-secretary of state , is the most senior civil servant of a British Government ministry, charged with running the department on a day-to-day basis...
for the Home Office
Home Office
The Home Office is the United Kingdom government department responsible for immigration control, security, and order. As such it is responsible for the police, UK Border Agency, and the Security Service . It is also in charge of government policy on security-related issues such as drugs,...
from 2001 to 2005. At the time, the Home Office was the government department responsible for law and order, including prisons and probation, policing, oversight of MI5
MI5
The Security Service, commonly known as MI5 , is the United Kingdom's internal counter-intelligence and security agency and is part of its core intelligence machinery alongside the Secret Intelligence Service focused on foreign threats, Government Communications Headquarters and the Defence...
, and immigration and nationality matters. As Permanent Secretary, Gieve was in charge of the Department’s administrative functions and its civil servants, working to the Minister
Minister (government)
A minister is a politician who holds significant public office in a national or regional government. Senior ministers are members of the cabinet....
ial team headed by the Home Secretary
Home Secretary
The Secretary of State for the Home Department, commonly known as the Home Secretary, is the minister in charge of the Home Office of the United Kingdom, and one of the country's four Great Offices of State...
. During Gieve's tenure at the Home Office, there were three Home Secretaries; Jack Straw (until 2001), David Blunkett
David Blunkett
David Blunkett is a British Labour Party politician and the Member of Parliament for Sheffield Brightside and Hillsborough, having represented Sheffield Brightside from 1987 to 2010...
(2001–2004), and Charles Clarke
Charles Clarke
Charles Rodway Clarke is a British Labour Party politician, who was the Member of Parliament for Norwich South from 1997 until 2010, and served as Home Secretary from December 2004 until May 2006.-Early life:...
(from 2004). Blunkett was obliged to resign from government after a scandal involving accusations of abuse of his official position and misuse of government funds.
On 31 January 2006, after Gieve had left, the UK National Audit Office
National Audit Office
National Audit Office can refer to:* Australian National Audit Office* National Audit Office * National Audit Office of the People's Republic of China* Swedish National Audit Office...
published a report, Home Office: 2004-05 Resource Account, which was highly critical of Home Office’s accounts during the period of Gieve's tenure; the accompanying press release stated that: Later in 2006, Charles Clarke was dismissed as Home Secretary and replaced by John Reid
John Reid (politician)
John Reid, Baron Reid of Cardowan, PC is a British politician, who served as a Labour Party Member of Parliament and cabinet minister under Tony Blair, most notably as Defence Secretary and then Home Secretary...
, who shortly after his appointment made a statement to Parliament in which he described the Home Office as "unfit for purpose".
Deputy Governor of the Bank of England
In early January 2006, Gieve was appointed as the new "Deputy Governor for Financial Stability" of the Bank of England. The appointment was for a five year term, and carried with it membership of the influential Monetary Policy Committee.On 30 April 2006, the UK's The Independent
The Independent
The Independent is a British national morning newspaper published in London by Independent Print Limited, owned by Alexander Lebedev since 2010. It is nicknamed the Indy, while the Sunday edition, The Independent on Sunday, is the Sindy. Launched in 1986, it is one of the youngest UK national daily...
newspaper reported that Gieve was being pressed to resign from the Bank of England because of financial mis-management at the Home Office during his period as Permanent Secretary, and his involvement in the released prisoners affair. There was concern that Gieve was not a City insider and that he did not have sufficient technical knowledge for the role. It is not clear who was "pressing" for his resignation - just an assertion in a newspaper.
On 18 June 2008, the Bank of England announced that Gieve would be stepping down in 2009, two years early, after his work to reform the Bank to take on formal and legal responsibility for financial stability was complete.
Personal life
Gieve was educated at Charterhouse SchoolCharterhouse School
Charterhouse School, originally The Hospital of King James and Thomas Sutton in Charterhouse, or more simply Charterhouse or House, is an English collegiate independent boarding school situated at Godalming in Surrey.Founded by Thomas Sutton in London in 1611 on the site of the old Carthusian...
in Godalming, Surrey and New College, Oxford
New College, Oxford
New College is one of the constituent colleges of the University of Oxford in the United Kingdom.- Overview :The College's official name, College of St Mary, is the same as that of the older Oriel College; hence, it has been referred to as the "New College of St Mary", and is now almost always...
, where he read first for a BA
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
degree in Philosophy, Politics and Economics, and then for an MPhil
Master of Philosophy
The Master of Philosophy is a postgraduate research degree.An M.Phil. is a lesser degree than a Doctor of Philosophy , but in many cases it is considered to be a more senior degree than a taught Master's degree, as it is often a thesis-only degree. In some instances, an M.Phil...
degree in Philosophy
Philosophy
Philosophy is the study of general and fundamental problems, such as those connected with existence, knowledge, values, reason, mind, and language. Philosophy is distinguished from other ways of addressing such problems by its critical, generally systematic approach and its reliance on rational...
. He joined the Civil Service
Civil service
The term civil service has two distinct meanings:* A branch of governmental service in which individuals are employed on the basis of professional merit as proven by competitive examinations....
in 1974, and has served in a number of departments. Privately, Gieve is known as a keen cyclist, footballer and golfer, and as a loyal supporter of Arsenal Football Club. He is married with two sons.
He was made a Companion of the Civil Division of the Order of the Bath
Order of the Bath
The Most Honourable Order of the Bath is a British order of chivalry founded by George I on 18 May 1725. The name derives from the elaborate mediæval ceremony for creating a knight, which involved bathing as one of its elements. The knights so created were known as Knights of the Bath...
(CB) in 1999, and promoted as Knight Commander of the same Division and Order (KCB) in the 2004 New Year Honours list
2004 New Year Honours
New Years' Honours are announced on or around the new year in Australia, Canada, New Zealand and the United Kingdom. The exact dates vary, both from year to year and from country to country...
.