Former Financial Services Secretary, Lord Paul Myners, has died at the age of 73.

A statement shared on behalf of his five children confirmed that Myners had “passed away peacefully” at Chelsea and Westminster Hospital on 16 January 2022.

Myners had a widespread financial career since entering the sector in 1974, which included time at NM Rothschild and Gartmore, and chairing positions at Marks & Spencer, the Guardian Media Group, and the Tate.

In 2001, he also produced the Myners Report, which looked at whether UK institutional investors, particularly pension scheme trustees and managers, were acting in the best interests of their beneficiaries, amid concerns they were giving insufficient attention to non-listed holdings.

He was made Financial Services Secretary in HM Treasury in October 2008 by then Prime Minister, Gordon Brown, and also served on the Prime Minister’s National Economic Council.

Myners was made a life peer in consequence of his appointments, and sat in the House of Lords as a Labour peer for six years before becoming a non-affiliated peer, and then a crossbencher.

In addition to this, he held membership of the Court of the Bank of England, was also a director at NatWest, the Bank of New York and Celltech.

The family statement read: "With great sadness we announce the loss of our beloved father Lord Paul Myners.

"He passed away peacefully in the early hours of this morning (16 January 2022) at Chelsea & Westminster Hospital.

"He will be deeply missed and in our hearts forever."

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