Paul Tucker, former deputy governor for financial stability at the Bank of England, is knighted in the new year’s honours list for his services to central banking.

Sir Paul, who played a key role in overhauling financial regulation after the crash, stepped down in the summer after losing out for the post of BoE governor to Mark Carney.

More women than men have been granted honours for the first time since the Order of the British Empire was founded in 1917 – by 611 to 584.

They include Alison Carnwath, chairwoman of Land Securities, the FTSE 100 property giant, who has previously faced controversy as head of Barclays’ remuneration committee. She has also sat on boards for companies such as Zurich, Man Group, Friends Provident and Gallaher.

Karren Brady, vice-chairman of West Ham football club – and star of television’s The Apprentice – becomes a CBE for “services to entrepreneurship and women in business”. Ms Brady is also Downing Street’s small business tsar.

Jayne-Anne Gadhia, chief executive of Virgin Money, is made a CBE for services to banking and voluntary service – the only commercial banker in the entire list of 1,195 people.

Other business figures honoured include Ian Cheshire, chief executive of Kingfisher, owner of the B&Q and Screwfix brands, who receives a knighthood.

There are CBEs for David Bernstein, former chairman of the Football Association, Philip Collins, chairman of the Office of Fair Trading, and Warren East, former chief executive of chipmaker Arm Holdings.

Also made a CBE are Katherine Garrett-Cox, chief executive of investment group Alliance Trust; John Hirst, head of the Met Office; and Cressida Hogg, a managing partner at venture capital firm 3i.

Alan Parker, founder and chairman of Brunswick – a leading City PR firm – has received a knighthood for his involvement with Save the Children.

Keir Starmer, the former director of public prosecutions and now Labour adviser, is also knighted.

Entertainers include Penelope Keith, who becomes a dame; Michael Crawford, who is made a CBE, and singer Katherine Jenkins, with an OBE. Financial Times contributor John Kay was made a CBE for his contribution to economics and sculptor Antony Gormley receives a knighthood.

Also becoming an OBE are Hamid Mughal, director of global manufacturing at Rolls-Royce, and Joanna Shields, chief executive of Tech City, the technology cluster in east London.

Three MPs receive knighthoods; Labour’s Kevin Barron and Conservatives Richard Ottaway and Peter Luff.

Knighthoods were also granted to Julian Seymour and Mark Worthington, former aides to Lady Thatcher who supported her in retirement. David Cameron, prime minister, is understood to have wanted a gesture of this ilk in the year of Thatcher’s death.

Among overseas awards are a damehood for Angela Lansbury, the actress best known for Murder She Wrote, while Laurent Beaudoin, chairman of industrial group Bombardier, receives a CMG as does Andrew Palmer, executive vice-president of carmaker Nissan.


Sir Paul honoured for services to banking

Sir Paul Tucker, the Bank of England’s former deputy governor for financial stability, lost out on the top job to Mark Carney but receives a knighthood for 33 years at Threadneedle Street, writes Claire Jones

Sir Paul, now a senior fellow at Harvard’s Kennedy School of Government, was honoured for services to central banking.

“This is a great honour: a tribute to the people with whom I worked for many years in the pursuit of stability, without which the economy cannot flourish,” he said.

An award for an official in a senior position at the central bank before, and during, the worst financial crisis since the Depression could raise eyebrows.

Sir Paul was also forced, in 2012, to counter suggestions that he was complicit in the London interbank offered rate (Libor) scandal, the rigging case that has become synonymous with bankers’ bad behaviour.

But most in the City and the world of central banking will see his knighthood as well deserved.

Viewed as one of the best central bankers of his generation, Sir Paul was considered unlucky to miss out on the governorship.

When many in finance regarded the BoE as aloof, he maintained strong relationships with bankers.

The knowledge built through these relationships, as well as his role as executive director for markets, meant that he was among the first to press for the central bank to do more to counter the liquidity shortages that emerged in 2007.

Sir Paul also played a prominent role in redrawing global rules on banking.

At 55, he could still make another bid for the BoE governorship in 2018 when Mr Carney is due to leave.

Get alerts on Paul Tucker when a new story is published

Copyright The Financial Times Limited 2018. All rights reserved.

Follow the topics in this article