Edward Alan John George, Baron George (16 September 1938 – 18 April 2009), known as Eddie George, or sometimes as "Steady Eddie", was

Governor of the Bank of England The governor of the Bank of England is the most senior position in the Bank of England. It is nominally a civil service post, but the appointment tends to be from within the bank, with the incumbent choosing and mentoring a successor. The governor ...

from 1993 to 2003 and sat on the board of

NM Rothschild and Sons Rothschild & Co SCA is a multinational Private banking, private and alternative assets investor, headquartered in Paris, France and London, United Kingdom. It is the flagship of the Rothschild banking group controlled by the British and French br ...

Early life

George was born and grew up in

Carshalton Carshalton ( ) is a town, with a historic village centre, in south London, England, within the London Borough of Sutton. It is situated around southwest of Charing Cross and around east by north of Sutton town centre, in the valley of the Rive ...

, the son of Alan, a

Post Office A post office is a public facility and a retailer that provides mail services, such as accepting letter (message), letters and parcel (package), parcels, providing post office boxes, and selling postage stamps, packaging, and stationery. Post o ...

clerk, and his wife Olive. He attended the independent

Dulwich College Dulwich College is a 2-18 private, day and boarding school for boys in Dulwich, London, England. As a public school, it began as the College of God's Gift, founded in 1619 by Elizabethan actor Edward Alleyn, with the original purpose of ...

on a scholarship. Having learned to speak

Russian Russian(s) may refer to: *Russians (), an ethnic group of the East Slavic peoples, primarily living in Russia and neighboring countries *A citizen of Russia *Russian language, the most widely spoken of the Slavic languages *''The Russians'', a b ...

at Dulwich, he carried out his

National Service National service is a system of compulsory or voluntary government service, usually military service. Conscription is mandatory national service. The term ''national service'' comes from the United Kingdom's National Service (Armed Forces) Act ...

at the

Joint Services School for Linguists The Joint Services School for Linguists (JSSL) was founded in 1951 by the British armed services to provide language training, principally in Russian, and largely to selected conscripts undergoing National Service. The school closed with the endi ...

. He attended and graduated from

Emmanuel College, Cambridge Emmanuel College is a constituent college of the University of Cambridge. The college was founded in 1584 by Sir Walter Mildmay, Chancellor of the Exchequer to Elizabeth I. The site on which the college sits was once a priory for Dominican mo ...

Financial career

George joined the

Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one ...

in 1962. Apart from secondments to

Moscow State University Moscow State University (MSU), officially M. V. Lomonosov Moscow State University,. is a public university, public research university in Moscow, Russia. The university includes 15 research institutes, 43 faculties, more than 300 departments, a ...

, the

Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central bank ...

, and the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...

, he remained there throughout his career. After three years as Deputy Governor, he was appointed

to succeed

Robin Leigh-Pemberton Robert "Robin" Leigh-Pemberton, Baron Kingsdown (5 January 1927 – 24 November 2013) was a British peer and banker, who served as Governor of the Bank of England from 1983 to 1993. Education and career Leigh-Pemberton was educated at St Pet ...

, who retired on the completion of his second five-year term of office on 30 June 1993. During the early part of George's governance, his successful relationship with then-

Chancellor of the Exchequer The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, t ...

Kenneth Clarke Kenneth Harry Clarke, Baron Clarke of Nottingham (born 2 July 1940) is a British politician who served as Home Secretary from 1992 to 1993 and Chancellor of the Exchequer from 1993 to 1997. A member of the Conservative Party (UK), Conservative ...

earned them the nickname 'the Ken and Eddie Show'. Upon the Labour Party coming to power at the 1997 general election, the Bank was given independence in setting UK interest rates by

Gordon Brown James Gordon Brown (born 20 February 1951) is a British politician who served as Prime Minister of the United Kingdom and Leader of the Labour Party (UK), Leader of the Labour Party from 2007 to 2010. Previously, he was Chancellor of the Ex ...

, the incoming Chancellor of the Exchequer. George was succeeded as Governor of the Bank of England in July 2003 by Mervyn King. George attracted controversy in 1998 when he was widely reported to have made a statement to London newspaper executives implying that unemployment in the north of England was a price worth paying to preserve affluence in the south of the country. He later claimed that his remarks had been misconstrued.

Later life

George served as a Governor of his former school,

, between 1998 and 2008 and as the Chairman of the Governors between 2003 and 2008. On 18 April 2009, George, a heavy smoker, died of

lung cancer Lung cancer, also known as lung carcinoma, is a malignant tumor that begins in the lung. Lung cancer is caused by genetic damage to the DNA of cells in the airways, often caused by cigarette smoking or inhaling damaging chemicals. Damaged ...

Personal life

George married Vanessa George, Lady George (''

née The birth name is the name of the person given upon their birth. The term may be applied to the surname, the given name or to the entire name. Where births are required to be officially registered, the entire name entered onto a births registe ...

'' Williams) in Surrey in 1962. They had three children. Lady George died in March 2017.

Honours

George was appointed Knight Grand Cross of the

Order of the British Empire The Most Excellent Order of the British Empire is a British order of chivalry, rewarding valuable service in a wide range of useful activities. It comprises five classes of awards across both civil and military divisions, the most senior two o ...

in the

2000 Birthday Honours The Queen's Birthday Honours were announced on 19 June 2000 to celebrate the Queen's Official Birthday in the United Kingdom,United Kingdom: Australia (12 June), New Zealand (13 June),New ZealandThe Queen's Birthday Honours 2000(13 June 2000), ' ...

. He was made a

life peer In the United Kingdom, life peers are appointed members of the peerage whose titles cannot be inherited, in contrast to hereditary peers. Life peers are appointed by the monarch on the advice of the prime minister. With the exception of the D ...

in June 2004 as Baron George, of

St Tudy St Tudy () is a village and civil parishes in England, civil parish in north Cornwall, England. The village is situated in the River Camel valley approximately five miles northeast of Wadebridge. History The village is mentioned as having a cat ...

in the County of Cornwall. He was awarded an

honorary An honorary position is one given as an honor, with no duties attached, and without payment. Other uses include: * Honorary Academy Award, by the Academy of Motion Picture Arts and Sciences, United States * Honorary Aryan, a status in Nazi Germany ...

D.Sc. A Doctor of Science (; most commonly abbreviated DSc or ScD) is a science doctorate awarded in a number of countries throughout the world. Africa Algeria and Morocco In Algeria, Morocco, Libya and Tunisia, all universities accredited by the s ...

by the

University of Buckingham The University of Buckingham (UB) is a non-profit private university#United Kingdom, private university in Buckingham, England, and the oldest of the country's six private universities. It was founded as the University College at Buckingham (U ...

on 4 March 2000, and appointed a deputy lieutenant of

Cornwall Cornwall (; or ) is a Ceremonial counties of England, ceremonial county in South West England. It is also one of the Celtic nations and the homeland of the Cornish people. The county is bordered by the Atlantic Ocean to the north and west, ...

in March 2006.

Arms

References

{{DEFAULTSORT:George, Edward 1938 births 2009 deaths Alumni of Emmanuel College, Cambridge British economists Crossbench life peers Deaths from lung cancer in England Deputy lieutenants of Cornwall English bankers Knights Grand Cross of the Order of the British Empire Members of the Privy Council of the United Kingdom George, Edward George, Baron Nestlé people People educated at Dulwich College Governors of the Bank of England People from Carshalton Deputy governors of the Bank of England Rothschild & Co people 20th-century English businesspeople Life peers created by Elizabeth II