Dame Sue Owen appointed as Non-Executive Chair of the United Kingdom Debt Management Office’s Advisory Board

4 May 2022 03:46 PM

HM Treasury has announced today that Dame Sue Owen has been appointed as the first Non-Executive Chair of the United Kingdom Debt Management Office’s (DMO) Advisory Board.

Dame Sue brings a wealth of experience to the role, having previously been a civil servant for 30 years, including 14 at HM Treasury. Amongst other things, she worked on fiscal policy and debt management policy at HM Treasury, including with the DMO between 2002 and 2006.

Most recently she served as the Permanent Secretary at the Department for Culture Media and Sport, from 2013 to 2019.

The appointment of Dame Sue as Non-Executive Chair of the DMO’s Advisory Board is for a period of three years.

The Economic Secretary to the Treasury, John Glen said:

I am delighted to welcome Dame Sue Owen as the first Non-Executive Chair of the DMO’s Advisory Board. Her extensive leadership and governance experience will be a great asset for guiding the DMO’s Board in the coming years.

Dame Sue’s appointment will help support the DMO to continue delivering its critical objectives, including meeting the government’s financing requirements, to the highest standards.

DMO Chief Executive, Sir Robert Stheeman said:

I am extremely pleased that Dame Sue Owen has been appointed as the first Non-Executive Chair of the DMO’s new Advisory Board. Dame Sue’s extensive experience at a senior level in both the public and private sectors will be a huge asset to us. Her previous experience, in particular at HM Treasury, in UK fiscal and debt management policy, means that she will be exceptionally well-placed to make a valuable contribution to the role of the Advisory Board, as a key component of the DMO’s governance arrangements.

Dame Sue Owen said:

I am delighted to be appointed to Chair the DMO’s Advisory Board. The DMO underpins the smooth operation of the public finances. Their work tends to go unrecognised as they are so good at the job; 2020-21 was an astonishing year with gilt sales at a record £485.8 billion and cash management turnover totalling £7.1 trillion, 45% up on the year before.

Further information

• The DMO is an Executive Agency of HM Treasury and is responsible for delivering HM Government’s debt management and cash management requirements, lending to local authorities, and managing certain public sector funds

• The appointment of a Non-Executive Chair of the Advisory Board was a recommendation included in the Tailored Review of the DMO, published in June 2021

• The appointment of Dame Sue followed a fair and open recruitment campaign, led by HM Treasury, in accordance with the requirements of the Governance Code for Public Appointments

• Dame Sue Owen DCB is an experienced and respected economist. She spent 10 years as an academic and 30 in the civil service, including 14 at HM Treasury, where she worked with the DMO between 2002-06. She also held senior roles at the FCO, DfID, and DWP, before retiring as Permanent Secretary of the Department for Digital, Culture, Media & Sport in April 2019. Dame Sue is now a specialist partner at Flint-Global, a non-executive Director at Pool Re, Pantheon International plc, and Serco plc, and she chairs the Royal Ballet Governors.