Chancellor announces Bank of England appointments

David Craig and Paul Nowak are appointed to four-year terms until 31 August 2030. Hanneke Smits will begin her four-year term on 1 January 2027, until 31 December 2030.  
 
David Craig and Paul Nowak take up the positions vacated by Sir Ron Kalifa and Baroness Frances O’Grady. David Craig and Paul Nowak will attend their first Court meetings on 17 September and 22 October respectively. Hanneke Smits will take up the position currently held by Sabine Chalmers, who has informed the Court of her intention to resign her role at the end of October 2026, and Hanneke Smits will attend her first Court meeting on 11 February 2027. 
 
These new appointments come alongside the reappointment of Lord Jitesh Gadhia and Tom Shropshire as non-executive directors for a second four-year team. Lord Jitesh Gadhia will begin his four-year term on the 24 October 2026, and Tom Shropshire will begin his four-year term on the 1 November 2026. 
 
Chancellor of the Exchequer, John Healey, said:
 
"These appointments strengthen the Court at a critical moment for the UK economy, providing deep and varied experience to support the Bank in delivering its core missions of monetary and financial stability.” 
 
David Roberts, Chair of Court, said:
 
“The Governor and I wish to thank Sabine Chalmers for her dedication to the Bank of England over the past four years and the insights she has brought to the Court throughout that time, including her support for the Bank’s culture and people development agenda.
 
On behalf of Court, I am delighted to welcome David, Paul and Hanneke, who bring considerable insight and experience that will aid the Court in executing on our responsibilities. I look forward to continuing working with Jitesh and Tom following their reappointment, as we continue to drive forward the changes needed to ensure the Bank is well placed to deliver in the coming years.”