Andrew Large
Sir Andrew Large | |
|---|---|
| Born | August 7, 1942 |
| Occupation(s) | Banker, consultant |
| Years active | 1964–present |
| Known for | Deputy Governor of the Bank of England, Monetary Policy Committee member |
Sir Andrew McLeod Brooks Large (born 7 August 1942) held the position of Deputy Governor of the Bank of England and was part of its Monetary Policy Committee from September 2002 until January 2006. Currently retired, he provides consultation to central banks and governments focusing on financial stability and the prevention of economic crises.
Early life and education
Large was born to Major General Stanley Eyre Large MBE and Janet Mary Brooks. He received his education at Winchester College followed by Corpus Christi College, Cambridge, where he obtained an honours B.A. His professional journey started at British Petroleum (1964–1971), where he worked in marketing roles throughout Malaysia before completing an MBA at INSEAD in 1970.
Career
Beginning his investment banking career in 1971 with Orion Bank, Large later joined Swiss Bank Corporation, becoming the sole non-Swiss member on its management board from 1987 to 1989. During the 1980s "Big Bang" deregulation period, he served on the London Stock Exchange council as well as the Takeovers Panel. In the early 1990s, he undertook advisory positions and directorships at several firms including Nuclear Electric, Rank Hovis McDougall, Dowty, English China Clays, and Phoenix Securities.
In 1992, Large was appointed chairman of the UK's Securities and Investments Board (SIB), which preceded the Financial Services Authority. In response to the 1992 pension fund scandal involving Robert Maxwell, he spearheaded reforms that favored lighter regulation paired with enhanced disclosure requirements and stricter enforcement measures rather than abolishing self-regulation. He stepped down in 1997 after Gordon Brown became Chancellor and advocated for more rigorous financial oversight.
From 1998 to 2002, Large held the role of deputy chairman at Barclays Bank while also chairing Euroclear. Concurrently, he was Managing Director of the IMF's Capital Markets Consultative Group (1999–2002) and led a Group of Thirty initiative focused on fortifying global financial market infrastructure related to clearing and settlement processes.
In September 2002, Edward George, Governor of the Bank of England, appointed Large as Deputy Governor. He became the first chairperson of the Hedge Fund Working Group—now known as the Standards Board for Alternative Investments (SBAI)—which established key industry standards. Additionally, Large is a member of the advisory board for the Official Monetary and Financial Institutions Forum (OMFIF), chairs Oliver Wyman’s Senior Advisory Board, advises SBAI, leads Marshall Wace’s Advisory Committee, and chairs Axis Capital’s Board Risk Committee.
Knighted in 1996, Large served as Warden of Winchester College until 2008. He also chaired the INSEAD Advisory Council and was a board member from 1998 through 2010. Furthermore, he acted as a governor at Abingdon School between 1991 and 1998.
Personal life
In 1967, Large married Susan Melville, daughter of Sir Ronald Melville KCB. They have three children: two sons—Alexander (born 1970) and James (born 1972)—and a daughter, Georgina (born 1976).
On 3 April 2012, Lady Large was named High Sheriff of Powys during a ceremony held at Brecon Guildhall. At his residence in Wales, he cultivates heritage apple tree varieties and holds the position of President of the Marcher Apple Network, a charitable organization devoted to conserving historic apple and pear cultivars.