 Starting in June 2002, he became Executive Director for Markets, with responsibility for (i) the Bank's implementation of monetary policy and the management of its balance sheet more generally, including management of UK's foreign currency reserves; and (ii) for market intelligence and analysis supporting the Bank's monetary and financial stability core purposes.At the same time he was appointed a member of the Bank of England's Monetary Policy Committee and Executive Director for Markets from June 2002.He has been described as trying to break down silos between different parts of the central banking during this period.