Lord Kingsdown Former Bank of England Governor dies

Former Bank of England Governor, Lord Kingdsdown – Robin Leigh-Pemberton, Baron Kingsdown – passed away last night, the Bank of England announced today. He was 86.

Robin Leigh-Pemberton, who became Lord Kingsdown in 1993, was at the helm of the UK’s central bank from 1983 to 1993.

Mark Carney, the current Bank Governor, said:

“On behalf of the Bank and all its staff, both past and present, I extend our most sincere sympathies to Lord Kingsdown’s wife and family. He made a substantial contribution to economic policy and the financial system of the United Kingdom, both in the public and private sector. He will be fondly remembered by current and former colleagues at the Bank of England.”

Lord King (Mervyn Allister King, Baron King of Lothbury), who was Bank Governor from 2003 until the summer of 2013, said of his predecessor “A tall, imposing and cheerful man, Robin had a talent for inspiring and persuading others to work for him. A born captain, he will be remembered with deep affection by the members of his team.”

Lord Kingsdown Governor during Black Wednesday

Lord Kingsdown was the Governor of the Bank of England during Black Wednesday when the British pound was kicked out of the ERM (European Exchange Rate Mechanism), the precursor to the Euro, because the government could not keep the currency above its agreed lower limit.

Lord Kingsdown was educated at Eton College and then studied law at Trinity College, Oxford, where he earned an MA in 1950.

In 1954 he was called to the Bar and worked as a practicing lawyer for a few years. He held the office of Justice of the Peace for the county of Kent between 1961 and 1975.

Lord Kingsdown was director of the National Westminster Bank from 1972 to 1983.

As a farmer and landowner in Kent, Robin Leigh-Pemberton played a prominent role in the county. He had been Chairman of Kent County Council and was Lord Lieutenant for many years.