Education
Cunliffe studied at Manchester University.
Cunliffe studied at Manchester University.
He lectured at the University of Western Ontario, before joining the United Kingdom Department of the Environment and Transport in 1980. He was appointed Deputy Director for International Finance at Her Majesty Treasury in 1998, then promoted to Director of International Finance, and then Managing Director of Macroeconomic Policy and International Finance. In 2001 he became Managing Director of Finance, Regulation and Industry for a year, before reverting to Managing Director of Macroeconomic Policy and International Finance.
In 2005 Cunliffe"s position was promoted to that of Second Permanent Secretary, remaining Managing Director of Macroeconomic Policy and International Finance, later focussed to Managing Director of International and Finance.
In 2007 following Gordon Brown"s appointment as Prime Minister, Cunliffe was appointed Head of the European and Global Issues Secretariat. This role included being the Prime Minister"s Advisor on International Economic Affairs and on the European Union in the Prime Minister" General’ s Office.
On 24 June 2011, Number 10 announced that Cunliffe would replace Kim Darroch as British Permanent Representative to the European Union in January 2012. He was replaced in the role by Ivan Rogers.
Cunliffe currently serves as Deputy Governor of the Bank of England for Financial Stability.
He replaced Paul Tucker when the latter was passed over for promotion to Governor in favour of Mark Carney, and chose instead when the announcement was made in June 2013 to lecture at Harvard. Cunliffe is overseeing "Project Bookend", the Bank of England"s project to examine the possible economic effects of the United Kingdom leaving the European Union following the upcoming referendum. This was alleged to have been inadvertently revealed after a senior official emailed details about the project to an editor at The Guardian newspaper.
Views Cunliffe suggested in a March 2014 speech at Chatham House that the domestic banks were too big to fail (TBTF), and instead of the nationalisation process used in the case of HBOS, RBS and threatened for Barclays (all in late 2008), could henceforth be bailed-in.
Cunliffe suggested in a March 2014 speech at Chatham House that the domestic banks were too big to fail (TBTF), and instead of the nationalisation process used in the case of HBOS, RBS and threatened for Barclays (all in late 2008), could henceforth be bailed-in. Curiously, Tucker chose to open his academic career with an address in Washington to the Institute for International Finance in which he suggested that United States banks and other institutions were now no longer to be deemed TBTF and henceforward would be bailed-in.
He took up the role in November 2013 and is an ex officio member of the Bank"s Financial and Monetary Policy Committees and its Court of Directors.
