Liz Oakes joins and Carolyn Wilkins stays to enforce FPC stability

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The Financial Policy Committee (FPC) has announced the appointment of Liz Oakes and the reappointment of Carolyn Wilkes to its taskforce. 

British Chancellor Jeremy Hunt announced the appointments yesterday in a bid to bolster the FPC’s headcount and continue on its path to provide financial and payment stability to the UK sector. 

Oakes becomes an external member of the committee, succeeding the role from Elisabeth Stheeman under a three-year term that begins on 3 June.

Oakes joins the FPC following a long career in the financial sector focusing 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 Wilkins for a second term on the FPC, beginning on 21 June 2024. She has 20 years of experience in central banking, most recently as Senior Deputy Governor at the Bank of Canada

Oakes has been appointed following an open recruitment process. As part of this process, HM Treasury recruited an executive search agency, a panel composed of Gwyneth Nurse and Jonathan Hall, with a number of candidates and made recommendations to the Chancellor, which informed his decision.

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