Forex
Bank of England Gains Three New Non-Executive Directors
The Bank of England's board has gained three new non-executive directors, including Paul Nowak, the general secretary of the Trades Union Congress (TUC).
Nowak was appointed by Chancellor John Healey to a four-year term, along with Refinitiv founder David Craig and top City investment manager Hanneke Smits.
As TUC general secretary since 2022, Nowak has been leading the union's calls for higher taxes on banks' profits, arguing that this could help bolster cost-of-living support for households.
The TUC represents 47 unions and 5.3 million workers in the UK. Nowak will be stepping into Baroness Frances O'Grady's shoes as she leaves her role as non-executive director on the Bank's board.