Initially an academic research economist, Paul served at the Bank of England for 26 years, including as Executive Director for Markets, Deputy Head of the PRA and for five years as a member of the Monetary Policy Committee. 

Since 2016 Paul has pursued a portfolio career including:

• as Chair, London Bullion Market Association
• as Non-executive Director at UK Debt Management Office
• consultancy and technical assistance for central banks and the IMF.

He has a number of academic affiliations including:

• Visiting Professor, at LIBF and at University of Richmond, London
• Fellow, Cambridge Institute for Sustainability Leadership, and
• Senior Research Fellow, King’s College Business School.

He writes about various aspects of central banking and financial markets and spends a considerable amount of personal time working on the interactions of climate change and the financial sector. That has included serving on the EU High-Level Experts Group on Sustainable Finance and the UK Green Finance Task Force, both in 2017/18.

Expertise 

Central banking, climate, policy, economics

Education

PhD, Macroeconomic Models, University of Warwick: 1983–90
MSc, Economics – specialising in Econometrics, University of Bristol: 1980–83
BA, Economics with Statistics, University of Bristol: 1977–80

Experience

London Bullion Market Association, Chair: 2016 – present
The London Institute of Banking & Finance, Visiting Professor: 2019 – present 
The Green Finance Institute, Member of Green Finance Institute Advisory Group: 2018 – present
King's Business School, Senior Research Fellow: 2018 – present
Cambridge Institute for Sustainability Leadership (CISL), Fellow: 2016 – present 
UK Debt Management Office, Non-executive Director: 2016 – present
PGFPolicy Ltd, Principal: 2016 – present
Oliver Wyman/ Systemic Policy Partnership, Associate: 2016 – present
Richmond The American International University in London, Visiting Professor: 2012 – present
UK Green Finance Task Force, Member: 2017–18
EU High-Level Experts Group on Sustainable Finance, Member: 2017–18
The London Institute of Banking & Finance, Chair Board of Trustees: 2011–17
Bank of England, Executive Director: 2009–16 
Bank of England, Head of Division: 1995–2009
Bank of England, Economist: 1990–95
University of Warwick, Research Associate: 1980–90 

Recent publications

‘What happens when nobody is watching: regulation, bank risk culture and achieving environmental sustainability', Chapter 3 in Banking on Change, 2019
‘Climate change: the role for central banks’, King’s College Business School, DAFM Research Centre, with Kern Alexander
 Working Paper 2019/6. ‘Banking regulation and sustainability’, with Kern Alexander, 2019 
Chapter 1 in Sustainability and Financial Markets, with Kern Alexander, 2019  
‘Can central bank balance sheets be used as a macro-prudential tool?’ 2018
Working Paper 2018/6 Financial Sector Assessment Program for the Euro Area, Note on Systemic Liquidity Management, IMF, 2018
FSAP paper on Systemic Liquidity Provision in the Euro Area ‘Competition and Prudential Regulation’, with Diarmuid Murphy
Bank of England Staff Working Paper 675, with P Grout, 2017

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