Rupert Pennant-Rea

Last updated

Rupert Pennant-Rea
Born
Rupert Lascelles Pennant-Rea

(1948-01-23) 23 January 1948 (age 76)
Nationality British
Education Peterhouse Boys' School
Alma mater
Occupation(s)Economist, businessman, journalist
Known forThe Economist, The Bank of England,
Notable workThe Economist Economics, Pocket Economics, Who Runs the Economy, Gold Foil
Spouses
Helen Jay
​
​
(m. 1986;div. 2009)​

Cinzia De Santis
​
(m. 2011)​
Children4
Parents
  • Peter Pennant-Rea (father)
  • Pauline Pennant-Rea (mother)

Rupert Lascelles Pennant-Rea (born 23 January 1948) is a British businessman, journalist, and former Deputy Governor of the Bank of England. He was editor of The Economist newspaper and later Chairman of The Economist Group.

Contents

Early life

The son of Peter Athelwold and Pauline Pennant-Rea, he was educated at the Peterhouse Boys' School, an Anglican church boarding school in Zimbabwe before attending Trinity College, Dublin, [1] and Manchester University, [1] where he received his MA degree. He is married and has three children and one step-daughter. At one time his wife was Helen Jay, one of the twin daughters of Labour Party politicians Peggy Jay and Douglas Jay. [2]

Career

Pennant-Rea joined the Bank of England in 1973 and remained until 1977, when he left to work for The Economist magazine. [1] He was the magazine's editor from 1986 until 1993. [3] Between 1993 and 1995, he again joined the Bank of England as Deputy Governor of the bank, under the governorship of Edward George; [1] he resigned following reports of an extramarital affair with Mary Ellen Synon, whom he had met at Trinity College, Dublin. [4]

In 1994 he became a member of the influential Washington-based financial advisory body, the Group of Thirty.

In 1995 he became a director of a Canadian mining company, Sherritt International [5] In March 1996, he was banned from the USA (along with his wife at the time and under-age children) because of Sherritt's commercial interests in Cuba, under the terms of the USA's Helms-Burton Act.

Pennant-Rea was chairman of The Stationery Office following its privatisation in 1996. [6] He was a British American Tobacco director from 1998 to 2007. [7] He was also Chairman of Henderson Group, [8] [9] and a non-executive director of several companies such as Go-Ahead Group, a transport company, First Quantum Minerals and Gold Fields, [10] both mining companies.

In July 2009, Pennant-Rea was appointed non-executive chairman of The Economist Group, having served as a non-executive director since August 2006. In July 2018, after nine years, he was succeeded by Paul Deighton. He was chairman at Royal London, [11] and Chairman of PGI , an agriculture company. He was a National Independent director of Times Newspapers. [12] Since retiring from Royal London in 2019, Pennant-Rea has been an angel investors and board member of start-ups related to greenhouse gases reduction such as Cloud-Cycle . [13]

In the non-profit sector, Pennant-Rea is a trustee of the Marjorie Deane Foundation. He was a trustee of Speakers Trust, [14] the UK's leading public-speaking training charity and Chairman of the Shakespeare Schools Festival. Pennant-Rea has written several books about economics and a novel, Gold Foil. [15]

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References

  1. 1 2 3 4 "Rupert Pennant Rea". The Times . 5 May 2003. Retrieved 3 December 2018.
  2. ↑ Lesley Garner (26 March 1995). "Twin faces of a fast decade". The Independent . Retrieved 15 February 2021.
  3. ↑ Tryhorn, Chris (22 June 2009). "Job cuts help lift Economist Group profits". The Guardian . Retrieved 13 May 2011.
  4. ↑ Angela Lambert & Vicky Ward (23 October 2011). "A thoroughly modern mistress". The Independent . Retrieved 15 February 2021.
  5. ↑ Friedman, Alan; Tribune, International Herald (12 July 1996). "EU and Canada Vow to Adopt Tough Retaliatory Measures : Allies Press U.S. To Back Down on Cuba Sanctions". The New York Times. ISSN   0362-4331 . Retrieved 15 June 2023.
  6. ↑ Harrison, Michael (9 April 1999). "Stationery Office chiefs set for pounds 13m windfall". The Independent . Retrieved 3 December 2018.
  7. ↑ Du Plessis, Jan (2007). "British American Tobacco Annual Report".
  8. ↑ "Pennant-Rea steps down from Henderson chair". The Independent. 13 December 2012. Retrieved 18 March 2024.
  9. ↑ "City grandee to step down from Henderson". Evening Standard. London. 13 December 2012. Retrieved 18 March 2024.
  10. ↑ "Gold Fields Annual Report" (URL). Gold Fields - Annual Report (Annual Report). South Africa: Gold Fields. 2008 – via Company website.
  11. ↑ "Royal London Announces New Chairman". London: Royal London. 13 December 2012. Retrieved 5 February 2014.
  12. ↑ Greenslade, Roy (2 March 2011). "Another Murdoch joins The Times board - with a retired spy". The Guardian. Retrieved 13 May 2011.
  13. ↑ "Rupert Lascelles PENNANT-REA personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 18 March 2024.
  14. ↑ Our Trustees
  15. ↑ "Gold Foil by Rupert Pennant Rea, First Edition - AbeBooks". abebooks.co.uk. Retrieved 18 March 2024.
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Preceded by Editor of The Economist
1986–1993		Succeeded by
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