Biography
Term of appointment: 4 December 2023 - 3 December 2026
Nathanaël (Nat) Benjamin was appointed Executive Director for Financial Stability Strategy and Risk and a member of the Financial Policy Committee (FPC) in December 2023. The FPC is the United Kingdom’s ‘macroprudential’ authority and it is tasked by Parliament with ensuring financial stability so that the UK financial system is able to absorb rather than amplify shocks, and serve UK households and businesses. Nat is responsible for the Bank of England’s work to deliver this objective.
Before that, from October 2021 to December 2023 Nat was the Executive Director in charge of Authorisations, Regulatory Technology, and International Supervision.
Nat originally joined the UK’s Financial Services Authority (FSA) in 2004, where he held a range of risk specialist roles: supervising how firms measure credit, market, insurance, and counterparty risks. During this time he also participated in policy developments under the Basel Committee and the European banking and insurance authorities. He became closely involved in the management of the global financial crisis, first in the UK and then at the Federal Reserve Bank of New York, where he was seconded from 2008 to 2010. After returning from secondment, he became head of the PRA division responsible for equipping the Bank of England with the capability to run concurrent public stress tests of major banks. In 2015, he was appointed to head the newly-created financial risk oversight function for the Bank of England's own balance sheet. In 2020 he became the interim Chief Financial Officer (CFO), acting as the Executive Director in charge of the Finance & Performance directorate.
Nat graduated from the École Centrale de Paris and has a doctorate in applied probability from Oxford University.
