Former city minister Lord Myners dies aged 73

Gordon Brown said the veteran businessman had been a ‘tower of strength’ during the 2008 financial crisis.

Sophie Wingate
Sunday 16 January 2022 18:11
Lord Myners was appointed financial services secretary in 2008 (PA)
Lord Myners was appointed financial services secretary in 2008 (PA)

Lord Myners, who led some of the UK’s best-known businesses and helped shape Gordon Brown’s response to the 2008 financial crisis as his city minister, has died at the age of 73.

The crossbench peer died in the early hours of Sunday, according to Edelman UK, where he served as chairman.

In a statement distributed by the communications giant, his five children said that he “passed away peacefully” at Chelsea and Westminster Hospital.

Lord Myners was born in 1948 and was brought up by his adoptive parents, a butcher and a hairdresser, in Cornwall.

After a stint as a London secondary school teacher and financial journalist at the Daily Telegraph he launched his extensive finance career at the investment bank NM Rothschild, later growing his reputation in the industry as chief executive and then chair of fund manager Gartmore.

He worked his way up to other prominent chairing positions, including at Marks & Spencer, the Guardian Media Group, Land Securities and Tate art galleries.

He also held directorships of companies including NatWest, Coutts & Co, Lloyds of London, the Bank of New York and Singapore’s sovereign wealth fund, as well as a membership of the Court of the Bank of England.

Gordon Brown appointed him financial services secretary in 2008, with the task of managing the national response to the banking crisis.

Lord Myners was a Treasury minister in Gordon Brown’s government (PA Archive)

In tribute to Lord Myners, the former prime minister tweeted: “I worked with Paul Myners during the global financial crisis while in government back in 2008 and he was a real tower of strength throughout that time.

“My thoughts are with his family at this sad time.”

As Lord Myners of Truro, in the County of Cornwall, he was elevated to the House of Lords, and later became a crossbench peer.

The statement from his family said: “With great sadness we announce the loss of our beloved father Lord Paul Myners (1948-2022).

“He passed away peacefully in the early hours of this morning (Sunday Jan 16) at Chelsea & Westminster Hospital.

“He will be deeply missed and in our hearts forever.”

Edelman EMEA’s president and chief executive Ed Williams said: “We are deeply saddened by the passing of Lord Myners, Edelman’s UK chairman.

“He made a huge contribution to the development and success of the firm over his tenure.

“There are few people who bring such depth of knowledge and experience from the top of both the private and public sector, and Paul always did so with a strong social and moral conscience.

“He also brought fun and laughter and was able to move effortlessly from PLCs to pop culture.”

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in