Gordon Richardson, Baron Richardson of Duntisbourne
Encyclopedia
Gordon William Humphreys Richardson, Baron Richardson of Duntisbourne, KG
, MBE
, TD
, PC
, DL
(25 November 1915 – 22 January 2010) was a British
banker, former lawyer, and former Governor of the Bank of England
.
and Gonville and Caius College, Cambridge
.
He served during World War II
and became a Member of the Order of the British Empire
, Military Division, in 1944. He was called to the bar at Gray's Inn
in 1946, becoming a member of the Bar Council between 1951 and 1955, but abandoned law for a career in the City
. He became a director of J. Henry Schroder & Co
in 1957, and was later chairman between 1962 and 1973.
He was appointed Governor of the Bank of England in 1973, and remained in that position until 1983. November 1973 saw a run on London and County Securities, marking the start of the secondary banking crisis
.
While serving as Governor, Richardson joined the Privy Council (1976) and was awarded the Territorial Decoration
(1979). He was created a life peer
as Baron Richardson of Duntisbourne, of Duntisbourne in the County of Gloucestershire
, and a Knight Companion of the Order of the Garter
, both in 1983.
Richardson was a member of the Morgan Stanley
advisory board from 1984. Between 1985 and 1991, he was a member of the Group of Thirty
, and thereafter remained as their Honorary Chair. He was chairman of the Pilgrim Trust
from 1984 to 1989.
On the evening of Friday 22 January 2010, the Bank of England released a statement announcing Richardson's death.
Order of the Garter
The Most Noble Order of the Garter, founded in 1348, is the highest order of chivalry, or knighthood, existing in England. The order is dedicated to the image and arms of St...
, MBE
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
, TD
Territorial Decoration
The Territorial Decoration was a medal of the United Kingdom awarded for long service in the Territorial Force and its successor, the Territorial Army...
, PC
Privy Council of the United Kingdom
Her Majesty's Most Honourable Privy Council, usually known simply as the Privy Council, is a formal body of advisers to the Sovereign in the United Kingdom...
, DL
Deputy Lieutenant
In the United Kingdom, a Deputy Lieutenant is one of several deputies to the Lord Lieutenant of a lieutenancy area; an English ceremonial county, Welsh preserved county, Scottish lieutenancy area, or Northern Irish county borough or county....
(25 November 1915 – 22 January 2010) was a British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
banker, former lawyer, and former Governor of the Bank of England
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 grooming his or her successor...
.
Biography
Richardson was born to John Robert and Nellie Richardson, and was educated at Nottingham High SchoolNottingham High School
Nottingham High School is a British boys' independent school situated about a mile north of Nottingham city centre. It has around 900 pupils from ages 11 to 18 and there is the adjoining Nottingham High Junior School catering for younger boys and, from September 2008, the Lovell House...
and Gonville and Caius College, Cambridge
Gonville and Caius College, Cambridge
Gonville and Caius College is a constituent college of the University of Cambridge in Cambridge, England. The college is often referred to simply as "Caius" , after its second founder, John Keys, who fashionably latinised the spelling of his name after studying in Italy.- Outline :Gonville and...
.
He served during World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
and became a Member of the Order of the British Empire
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
, Military Division, in 1944. He was called to the bar at Gray's Inn
Gray's Inn
The Honourable Society of Gray's Inn, commonly known as Gray's Inn, is one of the four Inns of Court in London. To be called to the Bar and practise as a barrister in England and Wales, an individual must belong to one of these Inns...
in 1946, becoming a member of the Bar Council between 1951 and 1955, but abandoned law for a career in the City
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
. He became a director of J. Henry Schroder & Co
Schroders
Schroders plc is a British multinational asset management company with over 200 years of experience in the world's financial markets. The company employs 2,905 people worldwide who are operating from 32 offices in 25 different countries around Europe, America, Asia and the Middle East...
in 1957, and was later chairman between 1962 and 1973.
He was appointed Governor of the Bank of England in 1973, and remained in that position until 1983. November 1973 saw a run on London and County Securities, marking the start of the secondary banking crisis
Secondary banking crisis of 1973–1975
The Secondary Banking Crisis of 1973–75 was a dramatic crash in property prices in Great Britain which caused dozens of small lending banks to be threatened with bankruptcy.-Crisis:...
.
While serving as Governor, Richardson joined the Privy Council (1976) and was awarded the Territorial Decoration
Territorial Decoration
The Territorial Decoration was a medal of the United Kingdom awarded for long service in the Territorial Force and its successor, the Territorial Army...
(1979). He was created a life peer
Life peer
In the United Kingdom, life peers are appointed members of the Peerage whose titles cannot be inherited. Nowadays life peerages, always of baronial rank, are created under the Life Peerages Act 1958 and entitle the holders to seats in the House of Lords, presuming they meet qualifications such as...
as Baron Richardson of Duntisbourne, of Duntisbourne in the County of Gloucestershire
Gloucestershire
Gloucestershire is a county in South West England. The county comprises part of the Cotswold Hills, part of the flat fertile valley of the River Severn, and the entire Forest of Dean....
, and a Knight Companion of the Order of the Garter
Order of the Garter
The Most Noble Order of the Garter, founded in 1348, is the highest order of chivalry, or knighthood, existing in England. The order is dedicated to the image and arms of St...
, both in 1983.
Richardson was a member of the Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
advisory board from 1984. Between 1985 and 1991, he was a member of the Group of Thirty
Group of Thirty
The Group of Thirty, often abbreviated to G30, is an international body of leading financiers and academics which aims to deepen understanding of economic and financial issues and to examine consequences of decisions made in the public and private sectors related to these issues...
, and thereafter remained as their Honorary Chair. He was chairman of the Pilgrim Trust
Pilgrim Trust
The Pilgrim Trust is a London-based charitable trust. It was founded in 1930 by a two million pound grant by Edward Harkness, an American philanthropist. The trust's first secretary was former civil servant, Thomas Jones....
from 1984 to 1989.
On the evening of Friday 22 January 2010, the Bank of England released a statement announcing Richardson's death.
External links
- Lord Richardson of Duntisbourne - Daily Telegraph obituary