City grandee Paul Myners, known as a steady ship in the capital’s financial affairs, has died at the age of 73.
The former Labour minister was brought into Gordon Brown’s government to help tackle the financial crisis of 2008, after making a name for himself in the fund managing space.
Former prime minister Brown called Myners a “real tower of strength” throughout that time.
“After a successful career in finance [he] was persuaded in 2008 to enter public service and was a tower of strength, helping nationalise key banks and producing a plan to overcome the global financial crisis. His charitable work in his native Cornwall will be long remembered,” added Brown.
Myners had been chairman and chief executive of City fund manager Gartmore, where he helped funds swell from £1.2bn in 1985 to some £75bn in 2001.
Though Myners began his career as an inner city school teacher, later becoming a financial journalist for the Daily Telegraph, before moving into finance at London investment bank NM Rothschild.
He was also chairman of the Guardian Media Group for eight years, before stepping down to enter Brown’s government.
Myners is survived by his five children, and five grandchildren. In a statement, 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) at Chelsea & Westminster Hospital. He will be deeply missed and in our hearts forever.”