John Gieve
Sir Edward John Watson Gieve | |
|---|---|
| Born | February 20, 1950 |
| Occupation | Civil servant |
| Years active | 1974–2009 |
| Known for | Deputy Governor for Financial Stability at the Bank of England; Permanent Secretary at the Home Office |
Sir Edward John Watson Gieve (born 20 February 1950) is a retired British civil servant who held the position of Deputy Governor for Financial Stability at the Bank of England and served as an ex officio member of the Monetary Policy Committee from 2006 until 2009.
Permanent Secretary at the Home Office
From 2001 to 2005, Gieve was the Permanent Under-Secretary of State at the Home Office, the department responsible for law enforcement, including policing, prisons, MI5, and immigration control. During his tenure, he oversaw the department’s administrative functions and civil service activities under three Home Secretaries: Jack Straw, David Blunkett, and Charles Clarke. Notably, David Blunkett resigned following a controversy involving improper use of his official position and government resources.
Following Gieve’s exit in early 2006, the UK National Audit Office published a critical review of the Home Office’s financial statements for 2004-05. The report highlighted failures in maintaining accurate financial records and missing statutory audit deadlines, which prevented auditors from expressing an opinion on the accounts’ reliability. Later that year, John Reid succeeded Charles Clarke as Home Secretary and famously characterized the Home Office as "unfit for purpose" shortly after assuming office.
Deputy Governor of the Bank of England
In January 2006, Gieve was appointed as Deputy Governor for Financial Stability at the Bank of England for a five-year term, joining the influential Monetary Policy Committee.
On 30 April 2006, The Independent reported demands for Gieve’s resignation related to financial mismanagement during his time as Permanent Secretary at the Home Office and his involvement in the released prisoners controversy. Questions were raised about his lack of experience in financial markets and technical expertise, although it was unclear who initiated these calls.
On 18 June 2008, the Bank of England announced that Gieve would resign in 2009, two years ahead of schedule, following the completion of reforms that established formal legal responsibility for financial stability within the Bank.
Personal life
Gieve received his education at Charterhouse School and New College, Oxford, where he earned a BA in Philosophy, Politics and Economics and subsequently an MPhil in Philosophy. He entered the Civil Service in 1974 and held positions across various departments throughout his career. He is an avid cyclist, football player, golfer, and a supporter of Arsenal Football Club.
He was married to Katherine Vereker until her passing in March 2024; together they had two sons. His son Daniel currently leads the Office for Investment.
Gieve was appointed Companion of the Order of the Bath (CB) in 1999 and elevated to Knight Commander (KCB) in the 2004 New Year Honours. Additionally, he holds an Honorary Fellowship at Regent's University London.