John Vickers
Encyclopedia
Sir John Vickers is a British
economist, and Warden of All Souls College, Oxford
.
from Oxford
.
from 1991 to 2008. His 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.
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...
economist, and Warden of All Souls College, Oxford
All Souls College, Oxford
The Warden and the College of the Souls of all Faithful People deceased in the University of Oxford or All Souls College is one of the constituent colleges of the University of Oxford in England....
.
Education
Sir John was educated at Eastbourne Grammar School and Oriel College, Oxford, culminating in his graduating with a DPhilDoctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
from Oxford
University of Oxford
The University of Oxford is a university located in Oxford, United Kingdom. It is the second-oldest surviving university in the world and the oldest in the English-speaking world. Although its exact date of foundation is unclear, there is evidence of teaching as far back as 1096...
.
Career
After a period working in the oil industry, he taught economics at Oxford University and was Drummond Professor of Political EconomyDrummond Professor of Political Economy
The Drummond Professorship of Political Economy at All Souls College, Oxford has been held by a number of distinguished individuals, including three Nobel laureates. The professorship is named after and was founded by Henry Drummond...
from 1991 to 2008. His academic posts have also included the London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
, the Woodrow Wilson School at Princeton University
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
and the Kennedy School of Government at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
. He was President of the Institute for Fiscal Studies
Institute for Fiscal Studies
The Institute for Fiscal Studies is an economic research institute based in London, United Kingdom which specialises in UK taxation and public policy...
, 2003–2007, and of the Royal Economic Society
Royal Economic Society
The Royal Economic Society is incorporated by a Royal Charter dated 2 December 1902. It is one of the oldest economic associations in the world. Currently it has over 3,300 individual members, of whom 60% live outside the United Kingdom...
, 2007–10.
From 1998–2000 he was Chief Economist at 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 a 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 2000–05 he was Director General/Chairman of the Office of Fair Trading
Office of Fair Trading
The Office of Fair Trading is a not-for-profit and non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforces both consumer protection and competition law, acting as the UK's economic regulator...
. He was knighted in 2005.
Since October 2008, he has been Warden of All Souls College, Oxford
All Souls College, Oxford
The Warden and the College of the Souls of all Faithful People deceased in the University of Oxford or All Souls College is one of the constituent colleges of the University of Oxford in England....
.
In June 2010, he became Chair of the UK's newly created Independent Commission on Banking
Independent Commission on Banking
The Independent Commission on Banking was established in the United Kingdom in June 2010 to consider structural and related non-structural reforms to the UK banking sector to promote financial stability and competition. It was established in the wake of the global financial crisis which began in 2007...
(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.