Liz Oakes and Carolyn Wilkins (Carolyn Wilkins photo credit: Bank of England)

The Chancellor of the Exchequer, Jeremy Hunt, has appointed Liz Oakes as an external member of the Financial Policy Committee (FPC). Her appointment fills the role previously filled by Elisabeth Stheeman. She will serve a three-year term, which will begin on 3 June.

Ms Oakes joins the FPC following a long career in the financial services sector focussing on payments. She has held a number of executive and board level roles in financial and professional services firms, including global positions leading strategy, market and product development.

The Chancellor has also reappointed Carolyn Wilkins for a second term on the FPC beginning on 21 June 2024. Carolyn has 20 years of experience in central banking, most recently as Senior Deputy Governor at the Bank of Canada.

Further information

About the appointment process

Ms Oakes has been appointed following an open recruitment process. As part of this process, HM Treasury recruited an executive search agency. A panel comprising of Gwyneth Nurse (non-voting member of the FPC and Director General of Financial Services, HM Treasury), Jonathan Hall (external member of the FPC) and Douglas Flint (independent panel member) interviewed a number of candidates and made recommendations to the Chancellor, which informed his decision.

There were 17 applications, of which 7 candidates were shortlisted for interview. One candidate withdrew prior to interview.