Former governor of the Bank of England Robin Leigh-Pemberton, Lord Kingsdown, has died.
He led the Bank from 1983 to 1993 and was 86.
Current governor Mark Carney said: "On behalf of the Bank and all its staff, both past and present, I extend our most sincere sympathies to Lord Kingsdown's wife and family.
"He made a substantial contribution to economic policy and the financial system of the United Kingdom, both in the public and private sector.
"He will be fondly remembered by current and former colleagues at the Bank of England."
In a statement, the Bank said: "The Bank of England mourns the passing of its former governor, Lord Kingsdown, who died last night."
Lord King, governor of the Bank from 2003 before stepping down this summer, paid tribute to his predecessor, saying: "A tall, imposing and cheerful man, Robin had a talent for inspiring and persuading others to work for him.
"A born captain, he will be remembered with deep affection by the members of his team."
Prior to becoming Bank governor, Mr Leigh-Pemberton was chairman of NatWest bank and several industrial companies.
He was also a landowner and farmer in Kent, becoming chairman of the county council and later lord lieutenant.
His son, James Leigh-Pemberton, was recently appointed chief executive of UK Financial Investments, the body that manages Government stakes in the Royal Bank of Scotland and Lloyds Banking Group.
The Bank of England said it would announce details of a memorial service to commemorate Lord Kingsdown's life and work in due course.