Paul Myners

UK Financial Services Secretary 2008-2010, Former President of Marks & Spencer



Paul Myners, Baron Myners, CBE is a British businessman and politician. He was the Financial Services Secretary (sometimes referred to as City Minister) in HM Treasury, the UK's finance ministry, during the Labour Government of Gordon Brown. He held the position from October 2008 until May 2010, and was made a life peer in consequence of his appointment, as he was not an elected Member of Parliament. He also served on the Prime Minister's National Economic Council. He now sits as a crossbencher.

Myners has worked in the financial sector since 1974. He has also held a number of third sector posts, including chairman of the trustees of the Tate and chairman of the Low Pay Commission, all of which he relinquished on his ministerial appointment. Immediately prior to his ministerial appointment he was chairman of the Guardian Media Group, publisher of The Guardian and The Observer newspapers, and chairman of Land Securities, the largest quoted property company in Europe at that time. He is a former chairman of Marks & Spencer and deputy chairman of PowerGen.

Although his political views are not well known, The Independent reported that ""a Labour Cabinet insider"" said of him that ""for a City grandee he has a genuine instinct for social justice.""Myners has never donated to the Labour Party, but in 2007 he gave £12,700 to Gordon Brown's leadership campaign.

In October 2008 he was appointed Financial Services Secretary to the Treasury (City Minister) in HM Treasury, in Prime Minister Gordon Brown's ministry. Shortly after his appointment Myners underwent a ""baptism of fire"", working on the £500bn 2008 United Kingdom bank rescue package.

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