We regret to announce that (Lord) Eddie George, the former Governor of the Bank of England and one of our most prominent speakers on global economic policy, has died after a long battle against cancer.
His successor Mervyn King announced his death saying he was “deeply saddened” by the news. Lord George, was with the Bank for 37 years and served two five-year terms as governor before retiring in 2003. He played an integral role when the new Labour government granted the Bank independence shortly after coming to power in 1997.
Paying tribute to his colleague, Mr King said: “I am deeply saddened to learn of Eddie’s death. He served the Bank for more than 40 years and was an outstanding governor, colleague and friend". He will be remembered as the governor who led the Bank to independence. Mr King added: “Only a few weeks ago, we reminisced about the events that led to that significant change for the Bank. Eddie will be greatly missed by his former colleagues in the Bank and the City more widely.”
Will Hutton paid tribute to Lord George, saying he would want to be remembered for his work in delivering Independence for the Bank. Mr Hutton told BBC News 24: “He was a breath of fresh air. He was a complete professional, very approachable, a very good man. His particular pride was that he was the governor who navigated the bank to independence."