FORMER Labour minister Paul Myners who helped shape Gordon Brown’s response to the 2008 financial crisis has died at the age of 73.
Leading tributes to the crossbench peer, the former PM described Lord Myners – who died in the early hours of this morning – as a “tower of strength”.
Lord Myners previously led some of the UK’s best-known businesses and was enlisted by ex-PM Mr Brown as city minister to help stabilise the country’s banks during the historic 2008 financial crash.
He was appointed as financial services secretary in 2008, with the task of managing the national response to the banking crisis.
In tribute to Lord Myners, the former prime minister tweeted: “I worked with Paul Myners during the global financial crisis while in government back in 2008 and he was a real tower of strength throughout that time.
“My thoughts are with his family at this sad time.”
In a statement distributed by communications giant Edelman UK, where he served as chairman, his five children said that he “passed away peacefully” at Chelsea and Westminster Hospital.
Lord Myners was born in 1948 and was brought up by his adoptive parents, a butcher and a hairdresser, in Cornwall.
After a stint as a London secondary school teacher and financial journalist at the Daily Telegraph, he launched his extensive finance career at the investment bank NM Rothschild, later growing his reputation in the industry as chief executive and then chair of fund manager Gartmore.
Lord Myners worked his way up to other prominent chairing positions, including at Marks & Spencer, the Guardian Media Group, Land Securities and Tate art galleries.
He also held directorships of companies including NatWest, Coutts & Co, Lloyds of London, the Bank of New York and Singapore’s sovereign wealth fund, as well as a membership of the Court of the Bank of England.
As Lord Myners of Truro, in the County of Cornwall, he was elevated to the House of Lords, and later became a crossbench peer.
The statement from his family said: “With great sadness we announce the loss of our beloved father Lord Paul Myners (1948-2022).
“He passed away peacefully in the early hours of this morning (Sunday Jan 16) at Chelsea & Westminster Hospital.
“He will be deeply missed and in our hearts forever.”
Edelman EMEA’s president and chief executive Ed Williams said: “We are deeply saddened by the passing of Lord Myners, Edelman’s UK chairman.
“He made a huge contribution to the development and success of the firm over his tenure.
“There are few people who bring such depth of knowledge and experience from the top of both the private and public sector, and Paul always did so with a strong social and moral conscience.
“He also brought fun and laughter and was able to move effortlessly from PLCs to pop culture.”