Houblon-Norman and George Fellowships
Houblon-Norman and George Fellowships are awarded to promote research into and disseminate knowledge and understanding of the working, interaction and function of financial business institutions in the UK and elsewhere and the economic conditions affecting them.
The Houblon Norman Fund (registered charity 213168) is administered by trustees, on the advice of an expert committee.
Fund trustees
One of the fund trustees must be a current Bank of England Governor or Deputy Governor. The current trustees are:
- Clare Lombardelli, Chair (appointed 2024)
- Anne Glover (appointed 2019)
- Nathanaël Benjamin (appointed 2023).
Fund advisory committee
The advisory committee is appointed by the trustees. It is made up of three people who have the academic standing and knowledge to make recommendations on who is awarded a fellowship.
The committee is currently made up of:
- Professor Anil Kashyap, Chair (appointed 2020)
- Professor Julia Black (appointed 2021)
- Huw Pill (appointed 2021).
Who is eligible for a fellowship?
Our fellowships enable successful applicants to engage in research on an economic or financial topic of their own choice, preferably one that would particularly benefit from being studied at the Bank of England. Applicants are encouraged to consult the Bank of England Agenda for Research. When assessing applications, the trustees will place particular emphasis on the relevance of the proposed research to current issues in economics and finance.
Senior fellowships are awarded to tenured full or chaired professors. Fellowships are also open to applicants at all other career stages, including postdoctoral researchers or those with equivalent experience. The duration of the fellowship is flexible, typically ranging from one month to one year.
The total amount distributed in any year rarely exceeds £120,000. Awards are provided as a per diem allowance, to cover subsistence costs such as travel, accommodation, and incidental expenses incurred during the fellowship. These allowances do not cover salary and should not be considered a substitute for remuneration.
Fellows will not be able to carry out teaching or other paid work during their fellowship without prior approval from the trustees’.
Applying for a fellowship
Please note applications for 2026/27 are now open. The closing date for applications is Wednesday 12 November 2025. Applications should be submitted via e-mail to MA-HNGFund@bankofengland.co.uk.
Application form For queries about the fellowships you can email MA-HNGFund@bankofengland.co.uk, or call +44 (0)20 3461 3834.
History of the fellowships
The Houblon-Norman Fellowship was established in 1944 to celebrate our 250th anniversary. It is named after the first Governor of the Bank, Sir John Houblon, and the Governor at the time of the anniversary, Montagu Norman.
The George Fellowship was established in 2003 to recognise former Governor Sir Edward George’s lifelong service to the Bank, and his role as the first chair of our Monetary Policy Committee.