Rachel Lomax
Encyclopedia
Janis Rachel Lomax in Swansea Wales is a British economist 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.
and Cheltenham Ladies' College
, Lomax graduated from Girton College, Cambridge
with an MA in 1966, and obtained an MSc
in Economics from the London School of Economics
in 1968.
, 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
.
Between 1999-2002 Lomax was permanent secretary at the Department for Work and Pensions
(previously the Department of Social Security) and, from 1996-9, at the Welsh Office
where she oversaw the setting up of the National Assembly for Wales
. She was a Vice President and Chief of Staff to the President of the World Bank
in 1995-6 and Head of the Economic and Domestic Secretariat at the Cabinet Office
in 1994. Her earlier career was spent at HM Treasury
, which she joined in 1968 and where she worked on a wide range of macro economic, monetary, and financial issues. She was Principal Private Secretary to the Chancellor of the Exchequer
, the Rt Hon Nigel Lawson
, in the mid 1980s, and Deputy Chief Economic Adviser in the early 1990s.
She became a non-executive Director of HSBC Holdings plc on 1 December 2008. In December 2010 she joined BAA
as a Non-Executive Director.
and of De Montfort University
. In June 2007 she received an honorary degree
from the University of Glasgow
. She has two sons (one is a doctor and the other a DJ). She married Michael Acworth Lomax in 1967, and divorced in 1990. In December 2010, she joined the BAA
Board as a Non-Executive Director.
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...
, sitting on 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 1 July 2003 to 30 June 2008.
Early life
After attending Rossall Preparatory SchoolRossall School
Rossall School is a British, co-educational, independent school, between Cleveleys and Fleetwood, Lancashire. Rossall was founded in 1844 by St. Vincent Beechey as a sister school to Marlborough College which had been founded the previous year...
and Cheltenham Ladies' College
Cheltenham Ladies' College
The Cheltenham Ladies' College is an independent boarding and day school for girls aged 11 to 18 in Cheltenham, Gloucestershire, England.-History:The school was founded in 1853...
, Lomax graduated from Girton College, Cambridge
Girton College, Cambridge
Girton College is one of the 31 constituent colleges of the University of Cambridge. It was England's first residential women's college, established in 1869 by Emily Davies and Barbara Bodichon. The full college status was only received in 1948 and marked the official admittance of women to the...
with an MA in 1966, and obtained an MSc
Master of Science
A Master of Science is a postgraduate academic master's degree awarded by universities in many countries. The degree is typically studied for in the sciences including the social sciences.-Brazil, Argentina and Uruguay:...
in Economics from the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
in 1968.
Career
Before joining the Bank, she was Permanent Secretary at the Department for TransportDepartment for Transport
In the United Kingdom, the Department for Transport is the government department responsible for the English transport network and a limited number of transport matters in Scotland, Wales and Northern Ireland which are not devolved...
, having moved there with her Secretary of State Alistair Darling
Alistair Darling
Alistair Maclean Darling is a Scottish Labour Party politician who has been a Member of Parliament since 1987, currently for Edinburgh South West. He served as the Chancellor of the Exchequer from 2007 to 2010...
when prime minister Tony Blair
Tony Blair
Anthony Charles Lynton Blair is a former British Labour Party politician who served as the Prime Minister of the United Kingdom from 2 May 1997 to 27 June 2007. He was the Member of Parliament for Sedgefield from 1983 to 2007 and Leader of the Labour Party from 1994 to 2007...
reshuffled his cabinet following the resignation—in highly-charged and controversial circumstances—of the Secretary of State for Transport
Secretary of State for Transport
The Secretary of State for Transport is the member of the cabinet responsible for the British Department for Transport. The role has had a high turnover as new appointments are blamed for the failures of decades of their predecessors...
Stephen Byers
Stephen Byers
Stephen John Byers is a British Labour Party politician who was the Member of Parliament for North Tyneside from 1997 to 2010; in the previous parliament, from 1992, he represented Wallsend...
.
Between 1999-2002 Lomax was permanent secretary at the Department for Work and Pensions
Department for Work and Pensions
The Department for Work and Pensions is the largest government department in the United Kingdom, created on June 8, 2001 from the merger of the employment part of the Department for Education and Employment and the Department of Social Security and headed by the Secretary of State for Work and...
(previously the Department of Social Security) and, from 1996-9, at the Welsh Office
Welsh Office
The Welsh Office was a department in the Government of the United Kingdom with responsibilities for Wales. It was established in April 1965 to execute government policy in Wales, and was headed by the Secretary of State for Wales, a post which had been created in October 1964...
where she oversaw the setting up of the National Assembly for Wales
National Assembly for Wales
The National Assembly for Wales is a devolved assembly with power to make legislation in Wales. The Assembly comprises 60 members, who are known as Assembly Members, or AMs...
. She was a Vice President and Chief of Staff to the President of the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
in 1995-6 and Head of the Economic and Domestic Secretariat at the Cabinet Office
Cabinet Office
The Cabinet Office is a department of the Government of the United Kingdom responsible for supporting the Prime Minister and Cabinet of the United Kingdom....
in 1994. Her earlier career was spent at HM Treasury
HM Treasury
HM Treasury, in full Her Majesty's Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the British government's public finance policy and economic policy...
, which she joined in 1968 and where she worked on a wide range of macro economic, monetary, and financial issues. She was Principal Private Secretary to the Chancellor of the Exchequer
Chancellor of the Exchequer
The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters. Often simply called the Chancellor, the office-holder controls HM Treasury and plays a role akin to the posts of Minister of Finance or Secretary of the...
, the Rt Hon Nigel Lawson
Nigel Lawson
Nigel Lawson, Baron Lawson of Blaby, PC , is a British Conservative politician and journalist. He was a Member of Parliament representing the constituency of Blaby from 1974–92, and served as the Chancellor of the Exchequer in the government of Margaret Thatcher from June 1983 to October 1989...
, in the mid 1980s, and Deputy Chief Economic Adviser in the early 1990s.
She became a non-executive Director of HSBC Holdings plc on 1 December 2008. In December 2010 she joined BAA
BAA
BAA may stand for:*Batting average against in Major League Baseball*BAA Ground, a now defunct cricket venue in Rangoon, Burma*BAA Limited Ferrovial, formerly BAA plc, originally known as the British Airports Authority...
as a Non-Executive Director.
Personal life
Rachel Lomax is on the Board of the Royal National TheatreRoyal National Theatre
The Royal National Theatre in London is one of the United Kingdom's two most prominent publicly funded theatre companies, alongside the Royal Shakespeare Company...
and of De Montfort University
De Montfort University
De Montfort University is a public research and teaching university situated in the medieval Old Town of Leicester, England, adjacent to the River Soar and the Leicester Castle Gardens...
. In June 2007 she received an honorary degree
Honorary degree
An honorary degree or a degree honoris causa is an academic degree for which a university has waived the usual requirements, such as matriculation, residence, study, and the passing of examinations...
from the University of Glasgow
University of Glasgow
The University of Glasgow is the fourth-oldest university in the English-speaking world and one of Scotland's four ancient universities. Located in Glasgow, the university was founded in 1451 and is presently one of seventeen British higher education institutions ranked amongst the top 100 of the...
. She has two sons (one is a doctor and the other a DJ). She married Michael Acworth Lomax in 1967, and divorced in 1990. In December 2010, she joined the BAA
BAA
BAA may stand for:*Batting average against in Major League Baseball*BAA Ground, a now defunct cricket venue in Rangoon, Burma*BAA Limited Ferrovial, formerly BAA plc, originally known as the British Airports Authority...
Board as a Non-Executive Director.