\ members
A timely event
by Bill Capps
Last year, when we were choosing the venue for the spring
meeting of the CIPFA South East retired members, a visit to
the Bank of England seemed a good idea. By April 2009, it
became an excellent idea. On 29 April, some 38 of us visited
the museum and enjoyed a fascinating presentation on the
history and the working of the bank.
The Bank of England was established under a charter
granted by William III in 1694. The initial capital was
£1,200,000, subscribed by members of the public. It
functioned initially from the Grocers’ Hall. In its early days it
faced competition from rival institutions, but during the 18
th

century its private business flourished and it developed as a
government bank, managing the increasing national debt. I did it!
In 1734, it moved to the site in Threadneedle Street. Over the
years, this site was expanded until reaching its present size in Mary Murphy
1833. The buildings were replaced in a major redevelopment Hampshire County Council
started after the First World War and completed just before Mary Murphy is a newly elected CIPFA member.
1939. It escaped damage during the Second World War. Below she talks about this professional and
The presentation took us through the bank’s activities as personal achievement.
it became the only issuer of notes and the custodian of the ‘I am so pleased to have achieved the CIPFA
country’s gold reserves. And, of course, it included the creation qualification. My journey started in 2005 when my
of the Monetary Policy Committee in 1997, and its current role employers inspired me to get that all important
in combating the credit crunch. piece of paper – the CIPFA qualification. I had not
The museum itself has plenty of fascinating exhibits. One studied for 25 years so as a mature student my
that caught my attention showed the relatively slow growth of journey started off hesitant and scary. The next
inflation between 1900 and 1960 and the rapid growth since four years I saw significant change in my study,
then. I also visited the museum shop and purchased some work and social life. Like many other students I
mementos for the grandchildren! worked hard, persisted with learning how you learn
Eric Keighley did a splendid job organising this event – and changed behaviours along the way. But most
which was followed by a buffet lunch at the Counting House in of all, I gained the courage to continue when up
Cornhill – so a big thank you, Eric. against the obstacles of deferred success. For this I
We have some ideas for our autumn event, but have to thank my support network which includes
further suggestions are welcome and can be sent to my husband Sam, my mentor Adrian Thorne, my
WCapps3970@aol.com employers Hampshire County Council and fellow
students, especially Keith Robbins.
Celebrating success is important to me. I was
thrilled to be invited, along with my guests, to the
CIPFA South East reception for newly qualified
members held at Robert Street on 17 March 2009.
Being welcomed into the CIPFA family and the
presentation of my certificate, by the president
Caroline Mawhood, represented a personal
Members on
triumph. The evening, hosted by CIPFA South East,
the move
presented a good opportunity to share stories of
the qualification journey with other new members,
Gavin Stevenson has been their supporters and CIPFA peers. I also took full
named CEO of Dumfries advantage of the photo opportunity to capture my
and Galloway council – achievement. Yes I did it and I am thrilled!’
moving from his role as Tell us about how you achieved the CIPFA
executive director at Perth qualification. Send your stories to
and Kinross council. corporate@cipfa.org.uk
CIPFA | Spreadsheet magazine | JUNE 2009 13
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