Rupert Pennant-Rea

Rupert Lascelles Pennant-Rea, born on 23 January 1948, is a British professional with a background in business, journalism, and finance. His career includes tenure as Deputy Governor of the Bank of England, editorship of The Economist magazine, and chairmanship of The Economist Group.

Early Life and Education:

Pennant-Rea is the son of Peter Athelwold Pennant-Rea (1914–2007), an aeronautical engineer who was awarded an MBE and served as head of Rhodesian civil aviation. His mother was Pauline Elizabeth, a daughter of L. E. Creasy. He attended Peterhouse Boys' School, an Anglican church boarding school located in Zimbabwe. He pursued higher education at Trinity College, Dublin, and subsequently obtained a Master of Arts degree from Manchester University.

Family:

He is married and has three children and one step-daughter. His former wife was Helen Jay, a twin daughter of Labour Party politicians Peggy Jay and Douglas Jay.

Career:

Pennant-Rea began his professional career at the Bank of England in 1973, remaining there until 1977. In 1977, he joined The Economist magazine, eventually becoming its editor from 1986 to 1993. After his editorial tenure, he returned to the Bank of England as Deputy Governor from 1993 to 1995 during Edward George's governorship. His resignation in 1995 followed media reports of an extramarital affair with Mary Ellen Synon, whom he had met at Trinity College, Dublin.

In 1994, Pennant-Rea joined the Group of Thirty, an influential financial advisory body based in Washington, D.C. The following year, he became a director of Sherritt International, a Canadian mining company. In March 1996, he and his family were prohibited from entering the United States due to Sherritt's involvement in Cuba, under the Helms-Burton Act.

He served as chairman of The Stationery Office following its privatization in 1996 and was a director of British American Tobacco from 1998 to 2007. His other corporate roles included chairmanship of Henderson Group and non-executive directorships at Go-Ahead Group, First Quantum Minerals, and Gold Fields.

In July 2006, he became a non-executive director of The Economist Group, later ascending to the position of non-executive chairman in July 2009, a role he held until July 2018, when Paul Deighton succeeded him. Additionally, Pennant-Rea served as chairman of Royal London and PGI, an agriculture company, and was a non-executive director of Times Newspapers.

Post-Retirement and Other Activities:

Since stepping down from Royal London in 2019, Pennant-Rea has been active as an angel investor and board member of start-ups focused on greenhouse gases reduction, such as Cloud-Cycle. He is involved in the non-profit sector as a trustee of the Marjorie Deane Foundation, a trustee of Speakers Trust—the UK's leading public-speaking training charity—and chairman of the Shakespeare Schools Festival.

Published Works:

Pennant-Rea has authored several books on economics and a novel titled "Gold Foil."