The UK Financial Policy Committee (FPC), integral to shaping financial policies, has announced the appointment of Liz Oakes as a new external member and confirmed Carolyn Wilkins for a second term. Chancellor of the Exchequer, Jeremy Hunt, made the announcement.
Oakes steps into the role previously held by Elisabeth Stheeman, with her term set to commence on June 3, 2024.
Operating under the Bank of England, the FPC plays a pivotal role in ensuring the stability of the UK financial system by identifying and mitigating systemic risks.
Liz Oakes brings a wealth of experience from the financial services sector, particularly in payments, having held senior positions driving strategy and development across global firms. Meanwhile, Carolyn Wilkins, reappointed for a second term starting June 21, 2024, boasts extensive experience in central banking, including her tenure as Senior Deputy Governor at the Bank of Canada.
The appointment process was rigorous and transparent, with HM Treasury employing an executive search agency to facilitate. The selection panel, comprising Gwyneth Nurse, Jonathan Hall, and Douglas Flint, interviewed candidates and made recommendations to the Chancellor.
Out of 17 applicants, 7 were shortlisted, demonstrating the importance of experienced professionals like Oakes and Wilkins in safeguarding the UK’s financial stability.
Chancellor Jeremy Hunt emphasised the value of their expertise, stating, “Liz Oakes and Carolyn Wilkins bring invaluable experience to the FPC, ensuring it remains robust in its mission to safeguard the UK’s financial stability.”
