Saturday, 21 July 2012

Bishop of Durham to serve on Banking Standards Commission

It was announced earlier this week that the Bishop of Durham is to serve on the Banking Standards Commission. Here is the Church of England press release.

Bishop of Durham to serve on Banking Standards Commission
17 July 2012

The Rt Revd Justin Welby, Bishop of Durham, has been invited to sit on the Parliamentary Commission On Banking Standards. His appointment to the Commission underlines the depth and value of the non-partisan expertise the Lords Spiritual bring to their work in the House of Lords.

The Commission will be chaired by Andrew Tyrie MP, Chairman of the Commons Treasury Select Committee. The terms of reference set out in the motion which established the Commission require it to consider and report on ‘professional standards and culture of the UK banking sector, taking account of regulatory and competition investigations into the Libor rate-setting process’ and ‘lessons to be learned about corporate governance, transparency and conflicts of interest, and their implications for regulation and for Government policy’.

Following graduation, Bishop Justin spent most of his professional life in business, including 11 years in the oil industry. He was part of the senior management team of a large British exploration and production company, responsible for its financing operations, eventually becoming Group Treasurer of Enterprise Oil PLC in 1984.

Giles Fraser interviews the bishop for The Guardian: The Saturday interview: Justin Welby, Bishop of Durham

There are some press reports of the bishop’s appointment.

Ed Thornton in The Church Times Durham joins team to tackle banks

BBC Bishop of Durham on UK banking committee

And The Guardian has a list of all the commission members: Parliamentary commission on banking standards set up.

Posted by Peter Owen on Saturday, 21 July 2012 at 10:10am BST | TrackBack
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Categorised as: Church of England

Your Justin Welby interview link is borked. It should be this:

ED: Sorry, now fixed.

Posted by: Simon Morden on Saturday, 21 July 2012 at 11:13am BST

I do hope that Bishop Justin remembers his predecessor Ian Ramsey (the much loved "Diddy Bishop") who had an inability to say "NO" to any request or task he was asked to take on. As a consequence his heart failed due to overwork and as Archbishop Michael Ramsey said at Bishop Ian's Memorial Service:- "The whirl became the whirlwind which swept Ian, like Elijah of old, to Paradise."

Posted by: Father David on Saturday, 21 July 2012 at 11:23am BST
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