King’s Birthday Honours list includes Knight Grand Cross for banking leader Sir Jon Cunliffe

Thaddeus Norwell13 June 2026

A formal ceremony announcing the King’s Birthday Honours list at a government building in London

A financier who played a pivotal role steering Britain through the 2008 financial crisis and now leads a sweeping reform of the water industry has been appointed a Knight Grand Cross of the Order of the British Empire (GBE). Sir Jon Cunliffe, the 73-year-old chairman of the Independent Water Commission, was recognised in the King’s Birthday Honours list for a career that has spanned politics, economics and diplomacy.

The GBE is the highest rank in many of the orders that make up the British honours system. Sir Jon’s honour was awarded for his public service over decades, including his current role driving reform of the water sector in England and Wales. Privately-owned water companies have faced mounting public anger over pollution levels, rising bills and executive bonuses, and Sir Jon was appointed to lead the Independent Water Commission when it was established in October 2024 to address what it described as “systemic issues”.

Water industry reform

In July 2025, the commission published its final report, containing 88 recommendations for what it called a “once-in-a-generation reform programme” aimed at resetting the sector. The report attributed blame to the Government for failing to provide sufficient direction to the water industry.

Among the most significant proposals is the creation of a single integrated regulator, replacing the existing body Ofwat. The new authority would combine the functions of economic, environmental and drinking water regulation. The commission also recommended new powers to block changes in control of water companies, introduce “public benefit” clauses in licences, and set minimum capital levels for water companies.

For strategic planning, the report called for the establishment of regional water system planning authorities in England and a national authority in Wales, with a long-term planning horizon. To improve consumer protections, it proposed converting the Consumer Council for Water (CCW) into a mandatory Water Ombudsman. Environmental regulation would be strengthened through enhanced oversight of sludge management, drinking water standards, water resources and abstraction, alongside reforms to operator self-monitoring. The commission also recommended introducing statutory resilience standards and improving the mapping and assessment of asset health.

The UK Government has indicated it intends to implement key recommendations from the report.

Financial crisis and public service

Before taking on the water portfolio, Sir Jon held a central position within the UK economy for a decade as deputy governor for financial stability at the Bank of England from 2013 to 2023. In that role he oversaw the Bank’s financial stability functions, was instrumental in post-2008 reforms aimed at strengthening financial resilience, and sat on the Bank’s Financial Policy Committee and Monetary Policy Committee, as well as its Court of Directors and the Prudential Regulation Committee. He also represented the Bank on the G20 Financial Stability Board Steering Committee and chaired the Bank for International Settlements Committee on Payments and Market Infrastructures.

Earlier in his career, between 2007 and 2011, Sir Jon served as an adviser to then prime minister Gordon Brown on international economic and financial issues. He collaborated closely with Brown during the depths of the financial crisis, providing counsel on European and international matters and conducting discussions at G8 and G20 summits. He was the G20 and G7 Sherpa and helped prepare the landmark 2009 G20 London Summit.

Sir Jon also served as the UK’s Permanent Representative to the European Union from 2012 to 2014, responsible for negotiations in Brussels across a wide range of EU issues. Before that he held senior roles at HM Treasury, including Second Permanent Secretary with responsibility for macroeconomic policy, international finance and financial services, where he was involved in work on the operational independence of the Bank of England and the international financial system.

His earlier career included time at the Treasury and the Department of Transport. He studied at the University of Manchester and lectured at the University of Western Ontario.

Sir Jon was previously appointed a Companion of the Order of the Bath (CB) in the New Year Honours 2001, and made a Knight Bachelor in the New Year Honours 2010. He is married with two daughters; one of them, Rachel, is an associate political editor at The New Statesman.