Victoria Cleland
Victoria Cleland | |
|---|---|
| Born | February 26, 1970 Warwick, United Kingdom |
| Occupation | Banking professional |
| Years active | c. 2005–present |
| Known for | Director for Banknotes and Chief Cashier at the Bank of England |
Victoria Mary Florence Cleland (born 26 February 1970) is a British banking professional currently holding the position of Director for Banknotes and Chief Cashier at the Bank of England since March 2025. She initially occupied this role from March 2014 until June 2018, after which Sarah John succeeded her. Cleland is notable as the second female to assume the Chief Cashier position, taking over from Chris Salmon in 2014 when he advanced to Executive Director for Markets. Prior to her latest appointment, she served as Executive Director for Payments at the Bank of England.
Education
Cleland pursued studies in philosophy, politics and economics at the University of Oxford and later earned an MBA from Imperial College London, with sponsorship from the Bank of England.
Career
With nearly two decades at the Bank of England, Cleland’s career began in small business finance before transitioning into wholesale market supervision and managing graduate recruitment. She dedicated three years to financial stability efforts and founded the "special resolutions" unit designed to handle banks facing distress following the financial crisis, playing a key role in the nationalisation of Northern Rock.
In March 2010, Cleland was appointed Head of Notes and subsequently elevated to Director for Banknotes and Chief Cashier in 2014. Her responsibilities included maintaining sufficient banknote circulation and spearheading anti-counterfeiting measures, such as supervising the introduction of new note designs. In 2013, she received a petition advocating for female representation on currency; during her leadership, Jane Austen became only the third historical woman to appear on Bank of England notes.
The banknotes issued during her terms bear Cleland’s signature. In October 2016, she inaugurated and conducted an auction of first-edition and low-serial-number notes—including the newly released polymer £5 note—at a London charity event.
Her return to the Chief Cashier role in March 2025 coincided with Sarah John’s transition to Chief Operating Officer at the Bank of England.
Outside banking
Since 2012, Cleland has been a trustee of the Royal London Society for Blind People.
In a 2018 interview with The Guardian, she revealed that she personally refrains from using contactless cards, attributing this choice to personal prudence rather than any official policy from the Bank of England.