Gordon Richardson, Baron Richardson of Duntisbourne

Gordon William Humphreys Richardson, Baron Richardson of Duntisbourne KG, MBE, TD, PC, DL (25 November 1915 – 22 January 2010) was a British banker, former lawyer, and former Governor of the Bank of England.[1]

The Right Honourable
The Lord Richardson of Duntisbourne
KG MBE TD PC DL
Governor of the Bank of England
In office
1 July 1973 – 30 June 1983
Preceded bySir Leslie O'Brien
Succeeded byRobin Leigh-Pemberton
Personal details
Born
Gordon William Humphreys Richardson

(1915-11-25)25 November 1915
Died22 January 2010(2010-01-22) (aged 94)
NationalityBritish
Alma materGonville and Caius College, Cambridge
OccupationLawyer, banker

Biography

Richardson was born to John Robert and Nellie Richardson, and was educated at Nottingham High School and Gonville and Caius College, Cambridge.

He served during World War II and became a Member of the Order of the British Empire, Military Division, in 1944. He was called to the bar at Gray's Inn in 1946, becoming a member of the Bar Council between 1951 and 1955, but abandoned law for a career in the City. He became a director of J. Henry Schroder & Co in 1957, and was later chairman between 1962 and 1973.

He was appointed Governor of the Bank of England in 1973, and remained in that position until 1983. November 1973 saw a run on London and County Securities, marking the start of the secondary banking crisis.

While serving as governor, Richardson joined the Privy Council (1976) and was awarded the Territorial Decoration (1979). He was created a life peer as Baron Richardson of Duntisbourne, of Duntisbourne in the County of Gloucestershire,[2] and a Knight Companion of the Order of the Garter, both in 1983.[3]

In February 1978, Richardson delivered the inaugural Mais Lecture, entitled "Reflections on the Conduct of Monetary Policy".[4] Since then, the annual lecture has come to be regarded as leading event in the banking and financial community of the City of London, hosting each of the subsequent Bank of England Governors, as well as Prime Ministers, Chancellors of the Exchequer, and European Central Bankers.

Richardson was a member of the Morgan Stanley advisory board from 1984. Between 1985 and 1991, he was a member of the Group of Thirty, and thereafter remained as their Honorary Chair. He was chairman of the Pilgrim Trust from 1984 to 1989.[5]

On the evening of 22 January 2010, the Bank of England released a statement announcing Richardson's death.[6]

Coat of Arms
Coat of arms of Gordon Richardson, Baron Richardson of Duntisbourne, KG, MBE, TD, PC, DL
Coronet
Coronet of a Baron
Escutcheon
Argent a fess wavy Bleu Celeste between in chief three swords in fess points upwards Gules and in base a pair of scales on a bordure also Gules eight bezants.
Orders
Order of the Garter; Order of the British Empire
Symbolism
The pale blue fess wavy represents the River Cam, and hence the University of Cambridge, Richardson's alma mater. The bezants represent gold coins for banking. The swords refer to the City of London, a city to which he had many links. The scales are a symbol of law and refer to his law career. His crest (not depicted here) is a seated female figure which represents the Bank of England, and is identifiable with the female figure of Britannia which appears on coinage.[7]

Footnotes
  1. "Former Bank of England governor Lord Richardson dies". BBC News. BBC. 23 January 2010. Retrieved 23 January 2010.
  2. "No. 49267". The London Gazette. 16 February 1983. p. 2283.
  3. "No. 49331". The London Gazette. 26 April 1983. p. 5667.
  4. "Re8ections on the conduct of monetary policy" (PDF). Bankofengland.co.uk. Retrieved 3 July 2022.
  5. "Lord Richardson of Duntisbourne, KG". The Daily Telegraph. 24 January 2010.
  6. "Former bank governor dies aged 94". The Press Association.
  7. Chessyre, Hubert (1995–1996). "The Heraldry of the Garter Banners" (PDF). Report of the Society of the Friends of St George's and the Descendants of the Knights of the Garter. VII (7): 286. Retrieved 19 January 2022.

References
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