Baron Richardson of Duntisbourne has died. He was 94.
Gordon Richardson was governor of the Bank of England from 1973 to 1983, a turbulent period for the British economy.
Current governor Mervyn King said: "I am very saddened to learn of Lord Richardson's passing.
"He was a man of dignity who served the Bank and the country with distinction.
"He was held in great affection by all who know him."
Born on November 25 1915, Richardson served in World War II and was awarded a military OBE.
Called to the Bar in 1946, he later left the law for the City, becoming a director of J. Henry Schroder & Co in 1957 and later its chairman.
He was elevated to the Lords Baron Richardson of Duntisbourne, of Duntisbourne in the County of Gloucestershire, in 1983 and sat as a crossbench peer.
In its obituary the Daily Telegraph said:
"He will be remembered especially for his role in the banking crisis which followed closely on his accession to the governorship in 1973; in the 1974-79 Labour administration's dealings with the International Monetary Fund (IMF); and in the resolution of international debt problems in the early 1980s.
"But he will be remembered also as the governor who failed to find favour with Margaret Thatcher."
Dods Parliamentary Communications Ltd