During the great financial crisis Paul worked in the Markets Area of the Bank, from March 2009 as Executive Director responsible, amongst many other things, for the Bank’s programme of asset purchases for quantitative easing, and introducing the Funding for Lending Scheme – as well as routine management of the UK’s foreign currency reserves and the Bank of England’s balance sheet more broadly.
In recent years Paul was largely responsible for management and coordination of the Prudential Regulation Authority as its Deputy Head, whilst researching matters of financial stability, policy co-ordination and governance, competition policy, supervision and regulation – including covering for eight months as Executive Director for Insurance Supervision where he acquired his climate change responsibilities. Paul was a regular attendee at central bank meetings in Basel and elsewhere from 1999–2014, initially as private secretary to the Governor Eddie George.
Among a range of outside positions Paul currently chairs the board of trustees at the ifsUniversity College, soon to be the London Institute of Banking and Finance and he is a visiting professor in economics and finance at Richmond, the American International University in London.
Paul is Vice Chair of CISL’s Banking Environment Initiative.