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Rupert Lascelles Pennant-Rea (born 23 January 1948) is a British businessman, journalist, and former Deputy Governor of the Bank of England. He was editor of The Economist newspaper and later Chairman of The Economist Group.
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Rupert Pennant-Rea | |
|---|---|
| Born | Rupert Lascelles Pennant-Rea 23 January 1948 |
| Nationality | British |
| Education | Peterhouse Boys' School |
| Alma mater | |
| Occupation(s) | Economist, businessman, journalist |
| Known for | The Economist, The Bank of England, |
| Notable work | The Economist Economics, Pocket Economics, Who Runs the Economy, Gold Foil |
| Spouses |
Helen Jay
(m. 1986; div. 2009)Cinzia De Santis (m. 2011) |
| Children | 4 |
| Parents |
|
The son of Peter Athelwold and Pauline Pennant-Rea, he was educated at the Peterhouse Boys' School, an Anglican church boarding school in Zimbabwe before attending Trinity College, Dublin,[1] and Manchester University,[1] where he received his MA degree. He is married and has three children and one step-daughter. At one time his wife was Helen Jay, one of the twin daughters of Labour Party politicians Peggy Jay and Douglas Jay.[2]
Pennant-Rea joined the Bank of England in 1973 and remained until 1977, when he left to work for The Economist magazine.[1] He was the magazine's editor from 1986 until 1993.[3] Between 1993 and 1995, he again joined the Bank of England as Deputy Governor of the bank, under the governorship of Edward George;[1] he resigned following reports of an extramarital affair with Mary Ellen Synon, whom he had met at Trinity College, Dublin.[4]
In 1994 he became a member of the influential Washington-based financial advisory body, the Group of Thirty.
In 1995 he became a director of a Canadian mining company, Sherritt International[5] In March 1996, he was banned from the USA (along with his wife at the time and under-age children) because of Sherritt's commercial interests in Cuba, under the terms of the USA's Helms-Burton Act.
Pennant-Rea was chairman of The Stationery Office following its privatisation in 1996.[6] He was a British American Tobacco director from 1998 to 2007.[7] He was also Chairman of Henderson Group,[8][9] and a non-executive director of several companies such as Go-Ahead Group, a transport company, First Quantum Minerals and Gold Fields,[10] both mining companies.
In July 2009, Pennant-Rea was appointed non-executive chairman of The Economist Group, having served as a non-executive director since August 2006. In July 2018, after nine years, he was succeeded by Paul Deighton. He was chairman at Royal London,[11] and Chairman of PGI , an agriculture company. He was a National Independent director of Times Newspapers.[12] Since retiring from Royal London in 2019, Pennant-Rea has been an angel investors and board member of start-ups related to greenhouse gases reduction such as Cloud-Cycle .[13]
In the non-profit sector, Pennant-Rea is a trustee of the Marjorie Deane Foundation. He was a trustee of Speakers Trust,[14] the UK's leading public-speaking training charity and Chairman of the Shakespeare Schools Festival. Pennant-Rea has written several books about economics and a novel, Gold Foil.[15]
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