Bank of England Court Approves ISS Facilities Contract, Dividend, and Senior Appointments

The Bank of England's Court of Directors met on 12 February 2026, approving the appointment of ISS as a single integrated Facilities Management provider following a competitive process. The contract's key performance indicators include compliance with budget, delivery of savings, and governance and health & safety controls, with 100% of ISS's management fee at risk. Court also approved an interim dividend to HMT, noting that an annual dividend should now be sustainable as the Bank has built up capital. The 3-year financial plan and one-year budget were approved, with costs planned to grow by 3% by 2028/29 versus a 7.6% CPI estimate. Rohan Churm was appointed Executive Director for Monetary Policy, and Tom Mutton was appointed Executive Director for Payments Innovation and Fintech. Abigail Caldwell was approved as a Bank-nominated Trustee of the Bank of England Pension Fund. The Bank's security outsourcing arrangement with Amulet terminated, with staff transferred under TUPE. The Data & Analytics Strategy is now in place, with focus on delivery and AI opportunities. The PRA External Business Plan 2026/27 was approved. The Governor noted that a major gilt redemption in January passed smoothly, and welcomed Kevin Warsh's nomination as next Federal Reserve Chairman.