Montagu Norman, 1st Baron Norman
The Lord Norman | |
|---|---|
Norman on the cover of Time, 1929 | |
| Governor of the Bank of England | |
| In office 1920–1944 | |
| Preceded by | Sir Brien Cokayne |
| Succeeded by | The Lord Catto |
| Member of the House of Lords Lord Temporal | |
| In office 1944 – 4 February 1950 Hereditary Peerage | |
| Preceded by | Peerage created |
| Succeeded by | None |
| Personal details | |
| Born | Montagu Collet Norman 6 September 1871 Kensington, London, England |
| Died | 4 February 1950 (aged 78) Campden Hill, London, England |
| Spouse | |
| Profession | Banker |
Montagu Collet Norman, 1st Baron Norman DSO PC (6 September 1871 – 4 February 1950) was an English banker, best known for his role as the Governor of the Bank of England from 1920 to 1944.
Norman led the bank during the toughest period in modern British economic history and was noted for his somewhat raffish character and arty appearance. A very influential figure, Norman, according to The Wall Street Journal, was referred to as "the currency dictator of Europe", a fact which he himself admitted to, before the Court of the Bank on 21 March 1930. The economist and Court member John Maynard Keynes said of him: "Montagu Norman, always absolutely charming, always absolutely wrong".
In recent years, Norman's reputation has suffered after the confirmation that he knowingly aided in the transfer of Czech gold to the Nazi regime in March 1939, and again supported transfers of Czech gold to Hitler's Germany two months after WWII broke out. On this second occasion, the UK government intervened to block Norman's initiative.