London, UK – November 7, 2023 – In a significant development, the Court of the Bank of England has appointed Nathanaël Benjamin as the new Executive Director for Financial Stability Strategy and Risk (FSSR). This prestigious appointment also grants Nathanaël Benjamin a position as a member of the influential Financial Policy Committee (FPC).
Nathanaël Benjamin, commonly referred to as Nat, will transition from his current role as the Executive Director for Authorizations, RegTech, and International Supervision. In this role, he has been responsible for overseeing the supervision of international banks operating in the United Kingdom since 2021. Additionally, Nat has chaired the Senior Trilateral supervisory network, facilitating collaboration between the Federal Reserve, the European Central Bank, and the Bank of England.
Nat’s career at the Bank of England has been marked by a series of crucial roles, including serving as the Interim Executive Director for Finance and Chief Financial Officer. His expertise spans various domains, including Risk, Financial Stability, Markets and Banking, and Supervision.
Reporting to the Deputy Governor for Financial Stability, Sarah Breeden, Nat’s appointment is set to take effect in December 2023.
The selection process for this prominent role was conducted meticulously, both internally and externally. Candidates underwent rigorous interviews conducted by panels comprised of Deputy Governors and the Court. Shortlisted candidates further faced interviews with the Governor before the final selection was presented to the Bank’s Court for approval.
Andrew Bailey, Governor of the Bank of England, expressed his confidence in Nat’s capabilities, stating, “Nathanaël has wide-ranging experience and knowledge of financial analysis and risk, as well as supervision. He also has extensive knowledge of the Bank and the financial sector and will be a great asset to the FPC.”
The appointment of Nathanaël Benjamin signifies a strategic move aimed at bolstering the Bank of England’s commitment to financial stability and risk management, and his wealth of experience is expected to bring valuable insights to the Financial Policy Committee.