Rachel Lomax
Janis Lomax | |
|---|---|
| Born | July 15, 1945 Swansea, Wales |
| Occupation(s) | Economist, banker, government official |
| Years active | 1968–present |
| Known for | Deputy Governor of the Bank of England; member of the Monetary Policy Committee (2003–2008) |
Janis Rachel Lomax (born 15 July 1945) is a distinguished British economist, banker, and former government official. She held the position of Deputy Governor of the Bank of England and was a member of the Monetary Policy Committee from 1 July 2003 until 30 June 2008.
Early life
Lomax was born in Swansea, Wales, and received her education at Rossall Preparatory School followed by Cheltenham Ladies' College. She obtained an MA degree from Girton College, Cambridge in 1966 and subsequently completed an MSc in economics at the London School of Economics in 1968.
Career
Following her studies at LSE, Lomax began her career at HM Treasury, focusing on macroeconomic and financial policy matters. Between 1985 and 1986, she served as Principal Private Secretary to Chancellor Nigel Lawson. Later, from 1990 to 1994, she was deputy secretary and Deputy Chief Economic Adviser. In 1994–95, she led the Economic and Domestic Secretariat within the Cabinet Office.
Lomax held the role of vice-president at the World Bank and acted as chief of staff to its President from 1995 to 1996. From 1996 through 2003, she occupied permanent secretary positions across four government departments: initially at the Welsh Office (1996–99), where she played a key role in establishing the National Assembly for Wales; then at the Department of Social Security (1999–2002) and its successor, the Department for Work and Pensions; finally, she led the Department for Transport (2002–03) following a cabinet reshuffle prompted by Stephen Byers’ resignation as Secretary of State.
During her tenure as deputy governor at the Bank of England (2003–08), Lomax was regarded as a moderate centrist within the Monetary Policy Committee. She stepped down shortly before the onset of the 2008 financial crisis to explore other opportunities.
In December 2008, Lomax was appointed as an independent non-executive director at HSBC Holdings, where she contributed to audit and risk committees. Since 2010, she has held non-executive directorships at BAA (now Heathrow Airport Holdings) and at Serco. Furthermore, she serves as a trustee for Imperial College London and has previously been President of the Institute of Fiscal Studies.
Personal life
Lomax is involved with the boards of both the Royal National Theatre and De Montfort University. In recognition of her achievements, she was awarded an honorary degree by the University of Glasgow in 2007. She married Michael Acworth Lomax in 1967; their marriage ended in divorce in 1990. They have two sons together and four granddaughters.