Bank of England appoints Rhys Phillips as the new Chief Cashier

The Governor of the Bank of England, Andrew Bailey, has announced that Rhys Phillips will be the next Chief Cashier and Director of Notes. He will take up the role on 19 October 2026. 

Governor Andrew Bailey said:

“Banknotes play a central role in public life. They serve not just as a means of payment, but as a shared symbol of our national identity. I am delighted that Rhys will be our next Chief Cashier leading the work to introduce a new generation of secure banknotes.”

Rhys joined the Bank in 2012, having begun his career at the Financial Services Authority in 2005. He has undertaken a variety of roles in relation to banking supervision, financial stability, and financial markets, including as Head of Sterling Markets Division from  
2018-2023 and most recently as principal private secretary to the Governor. 

As Chief Cashier and Director of Notes, Rhys will be responsible for the production of high quality, secure notes which the public can use with confidence. 

Victoria Cleland, the outgoing Chief Cashier, has decided to step away from the Bank after 35 years' service including over 10 years in the Notes area. She will continue as a special advisor to the Governors and Chair of the Retail Payments Infrastructure Board, until she leaves the Bank next spring.