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Treasury calls Bank stability chief out of retirement

HM Treasury has called the former Bank of England executive director of financial stability Alastair Clark out of retirement to aid the Government on stability issues.

Clark worked for the Bank of England for 37 years, including seven years as financial stability chief. He left the role in 2003 to become an adviser to the governor, Mervyn King, but was reappointed once again into the same role for 12 months in 2007 to aid with the onset of the credit crunch.

He has now come out of retirement to aid the Treasury as a senior adviser on financial stability issues, working two days a week.

Treasury second permanent secretary Tom Scholar says: “I am delighted that Alastair has agreed to join us – we will all benefit greatly from his experience and knowledge of many of the issues we face.”

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