Press Release

Sir John Gieve Named Senior Fellow with Harvard Kennedy School’s Belfer Center for Science and International Affairs

| March 4, 2009

Former Deputy Governor, Bank of England, Will Bring Economic and Counter Terrorism Expertise

Cambridge, Mass. – The Belfer Center for Science and International Affairs at Harvard Kennedy School announced today that Sir John Gieve, former deputy governor of Bank of England, will begin this week as a Belfer Center senior fellow. In the position, he will work on the international economic crisis and on the differing UK and US approaches to countering terrorism.  

Gieve served as deputy governor of Bank of England from 2006 until February 2009. In that position, he was responsible for measures to stabilize the financial sector, involving close engagement with leading banks and their regulators at home and abroad. In addition, he was a member of the Monetary Policy Committee which sets interest rates, and he was a member of the Financial Stability Forum which is leading the international response to the credit crisis. During the past year, he headed efforts to change the Bank’s role in order to tackle the international financial crisis.

For the past 10 years, Gieve has played a leading role in reforming major institutions and helping them respond effectively to unexpected stress. He served as permanent secretary for the Home Office from 2001-2005, with responsibilities that included countering terrorism, reforming the criminal justice system, and reducing racial and religious tensions. Earlier in his career, in the Treasury, he was responsible for planning and control of public spending, and he headed the Treasury’s banking group responsible for negotiating and implementing EU single market legislation. He also served for a time as private secretary to Chancellors Nigel Lawson, John Major, and Norman Lamont.

At the Belfer Center, Gieve will share his expertise and insights and explore ideas for international financial system reforms with other economics experts and with faculty, fellows, and students concerned about the impact of the financial crisis on public policy issues.  He will also explore with colleagues the differences between counter terrorism responses in the United States and the United Kingdom.

In announcing Gieve’s appointment, Belfer Center Director Graham Allison said, “With the Great Recession looking ever more depressing, the state of the global economy will directly influence every other public policy priority. We are very happy to have someone of Sir John's expertise as a senior fellow during this critical time. As the Bank of England’s former deputy governor for financial stability, he will bring important insights into the financial challenges governments face and the kind of systems that might prevent a recurrence of these events.”

 “I am delighted the Belfer Center has given me the opportunity to come to the Kennedy School to meet and work with leading thinkers on two of the big issues of our times : international terrorism and the global financial and economic crisis,” Gieve said. “Over the last eight years, I have been at the centre of policy making in the UK on these issues: first in responding to 9/11 and then the 2005 attacks in London, and, more recently, the global financial and economic crisis. I am looking forward to learning from the U.S. perspective on both.”

In an interview with David Smith, economics editor of the Sunday Times (London) on March 1 ( Gieve said he worries that the economic crisis will see globalization go into reverse. “‘The risk is that we’ll see a real step back from open international financial markets,’ he says. ‘The Asian crisis was big but didn’t lead those countries to say the free-market model is flawed. The big issue is whether we treat this global recession the same way. Is it a case of mending the system but driving forward on an open trading, free-market model, or will it go into reverse? There’s a real risk of a reversal.’”

The Smith interview notes that one of the things Gieve will be thinking about at Harvard will be “the kind of system that will prevent a recurrence of the current agonies."


For additional information, contact: Sharon Wilke (617) 495-9858 or Sasha Talcott (617) 495-7381

For more information on this publication: Please contact the Belfer Communications Office
For Academic Citation:Sir John Gieve Named Senior Fellow with Harvard Kennedy School’s Belfer Center for Science and International Affairs.” Press Release, March 4, 2009.

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