Page last updated at 02:04 GMT, Saturday, 23 January 2010

Former Bank of England governor Lord Richardson dies

Bank of England at night
Lord Richardson led the Bank of England for 10 years

The former governor of the Bank of England Lord Richardson of Duntisbourne has died at the age of 94.

Gordon Richardson led the Bank for 10 years from 1973 after serving as a non-executive director from 1967.

Mervyn King, the current governor of the Bank, described him as "a man of dignity who served the Bank and the country with distinction".

"I am very saddened to learn of (his) passing. He was held in great affection by all who know him," Mr King said.

Lord Richardson was educated at Nottingham High School and Gonville and Caius College, in Cambridge.

In 1946, he was called to the bar after serving in the Second World War, but later left law for the City.

He was director, and later chairman, of J Henry Schroder before joining the Bank and was made a member of the Privy Council in 1976 and a member of the Order of the Garter in 1983.

That same year, he was made a life peer and sat as a crossbencher in the House of Lords.

The announcement of his death was made in a statement released by the Bank on Friday evening.

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