Rupert Pennant-Rea
Rupert Pennant-Rea | |
|---|---|
| Born | January 23, 1948 United Kingdom |
| Occupation(s) | Businessman, journalist |
| Years active | 1973–present |
| Known for | Deputy Governor of the Bank of England, Editor of The Economist, Chairman of The Economist Group |
Rupert Lascelles Pennant-Rea (born 23 January 1948) is a prominent British figure known for his roles in business, journalism, and as a former Deputy Governor of the Bank of England. He held the position of editor at The Economist and subsequently served as Chairman of The Economist Group.
Early life
He is the son of Peter Athelwold Pennant-Rea MBE, an aeronautical engineer who previously led Rhodesian civil aviation, and Pauline Elizabeth Creasy. His education began at Peterhouse Boys' School in Zimbabwe, followed by studies at Trinity College, Dublin and Manchester University, where he attained an MA degree. He has three children along with one step-daughter. His ex-wife, Helen Jay, is the daughter of Labour Party politicians Peggy Jay and Douglas Jay.
Career
Pennant-Rea started his career at the Bank of England in 1973 but departed in 1977 to join The Economist. He was appointed editor from 1986 until 1993. He then returned to the Bank as Deputy Governor between 1993 and 1995 under Edward George’s leadership but resigned following allegations concerning an extramarital relationship.
In 1994, he became a member of the Washington-based financial advisory group known as the Group of Thirty. The following year, he took on a directorship at Sherritt International, a Canadian mining company; however, in 1996 he was barred from entering the United States due to Sherritt’s involvement with Cuba under the Helms-Burton Act.
Following the 1996 privatisation of The Stationery Office, he assumed its chairmanship. From 1998 to 2007, he was a director at British American Tobacco. Additionally, Pennant-Rea chaired Henderson Group and held non-executive directorships at transport firm Go-Ahead Group and mining companies First Quantum Minerals and Gold Fields.
He was appointed non-executive chairman of The Economist Group in July 2009 after joining its board in 2006, with Paul Deighton succeeding him in 2018. His leadership roles also extended to chairing Royal London Group and PGI, an agricultural enterprise. Furthermore, he served as a National Independent director at Times Newspapers. Since stepping down from Royal London in 2019, Pennant-Rea has engaged as an angel investor and board member for startups dedicated to reducing greenhouse gas emissions, including Cloud-Cycle.
Within the charitable sector, Pennant-Rea acts as a trustee for the Marjorie Deane Foundation, previously served on the board of Speakers Trust—the UK’s foremost public-speaking charity—and chairs the Shakespeare Schools Festival. His written works include several books on economics along with a novel titled Gold Foil.