Outgoing Bank of England's Paul Tucker will become Harvard academic

The Bank of England has announced the appointment of its deputy governor for Financial Stability and MPC member Paul Tucker as a senior fellow at Harvard Kennedy School and Harvard Business School (release).

As a Senior Fellow, Mr Tucker will work with faculty and students, both inside and outside the classroom, to help advance research and teaching about the global economy, financial institutions and the global financial system, and contribute to the intellectual life of both the Harvard Kennedy School and Harvard Business School.

The appointment is for the academic year 2013-14 and will take effect in October. Mr Tucker's last day at the Bank will be Friday 18 October. Mr Tucker was appointed as Deputy Governor, Financial Stability, in March 2009.

Paul Tucker:

This is a wonderful opportunity for me. I am greatly looking forward tobeing at Harvard and having the chance to engage more deeply with the academic community.

Mark Carney, the governor of the Bank of England, said:

I am very grateful to Paul for the extremely valuable support he has already provided, and will continue to provide, in the first few months of my term as Governor. We have much work to do together before he departs. Beyond that time, I look forward to maintaining our close dialogue on a wide range of economic and financial issues.

Lawrence Summers, the Charles W. Eliot University professor at Harvard and co-director of M-RCBG, expressed his enthusiasm for Mr Tucker’s decision to serve as a joint fellow:

Today’s public problems and opportunities increasingly require collaboration between public and private institutions – between business and government.

Paul Tucker brings a unique perspective on how these different institutions can work together more effectively. His experience as a senior leader of the Bank of England has given him invaluable insights into how to bridge the perspectives of multiple sectors, enabling the collaboration necessary to solve some of the most intractable public problems. We are thrilled he will be joining us as a Senior Fellow to share his ideas and insights with our faculty, scholars and students.