Montagu Norman

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Montagu C. Norman, Time cover, 1929

Montagu Collet Norman, 1st Baron Norman, DSO (6 September 1871–4 February 1950), was a distinguished English banker, best known for his role as the Governor of the Bank of England from 1920 to 1944.

Sir Montagu Norman was the elder son of Frederick Henry Norman and Lina Susan Penelope Collet, a daughter of Sir Mark Wilks Collet, 1st Baronet, himself a Bank of England Governor. He was educated at Eton and King's College, Cambridge. He was created as the 1st Baron Norman on 13 October 1944. The barony became extinct upon his death in 1950.

Under Norman's Governorship, the bank underwent significant change. In 1931 the United Kingdom permanently abandoned the gold standard, at which point the bank's foreign exchange and gold reserves were transferred to the British Treasury.

He was a close friend of the German Central Bank president Hjalmar Schacht. Both were members of the Anglo-German Fellowship and the Bank for International Settlements.

Norman was a leading figure in establishing the Bank for International Settlements, also in 1931. He was also accused by many of collaborating in the conspiracy to launder Nazi profits.^{[citation needed]}

On 2 November 1933, Norman married Priscilla Reyntiens, London councillor, and grand-daughter of the 7th Earl of Abingdon. His stepson from this marriage was Sir Peregrine Worsthorne.

His brother Ronald Collet Norman and his nephew Mark Norman became leading bankers. His great-nephew David Norman has also led a successful city career and is a noted benefactor of the arts.