Jim O'Neill (economist)
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The Right Honourable The Lord O'Neill of Gatley |
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|---|---|
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| Commercial Secretary to the Treasury | |
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In office 14 May 2015 – 23 September 2016 |
|
| Prime Minister |
David Cameron Theresa May |
| Chancellor |
George Osborne Phillip Hammond |
| Preceded by | The Lord Deighton |
| Succeeded by | Office not in use |
| Personal details | |
| Born |
Terence James O'Neill 17 March 1957 Manchester, United Kingdom |
| Nationality | British |
| Political party | Unaffiliated (Crossbencher) |
| Other political affiliations |
Conservative |
| Spouse(s) | Married |
| Children | 2 |
| Alma mater |
University of Sheffield University of Surrey |
| Known for | BRIC economic theory |
Terence James "Jim" O'Neill, Baron O'Neill of Gatley (born 17 March 1957), former chairman of Goldman Sachs Asset Management and former Conservative government minister, is a British economist best known for coining BRIC, the acronym that stands for Brazil, Russia, India, and China—the four rapidly developing countries that have come to symbolise the shift in global economic power away from the developed G7 economies. As of January 2014, he is an Honorary Professor of Economics at the University of Manchester. He was appointed Commercial Secretary to the Treasury in the Second Cameron Ministry, a position he held until his resignation on 23 September 2016.
O'Neill obtained a B.A. degree in 1977 and an M.A. degree in economics from Sheffield University in 1978. He subsequently earned his Ph.D. degree from the University of Surrey in 1982, with a thesis titled An empirical investigation into the OPEC surplus and its disposal. O'Neill began his career in finance working at Bank of America in 1982. From 1988 to 1991, he was in charge of the fixed income research group at Swiss Bank Corporation, and he served as SBC's chief of global research. He joined Goldman Sachs in 1997 and he was appointed as the head of global economics research in 2001, which is also when he published the seminal BRIC paper. No candidate yet has been named to replace him as Chief Economist.
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