UK Debt Chief Retires After 21 Years Overseeing £3 Trillion in Borrowing
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Robert Stheeman has raised over £3 trillion for Britain in his 21 years as head of the UK's Debt Management Office, making him a highly influential figure in UK finance
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His first job was cutting coupons off bond certificates, setting him on a path to later oversee Britain's public sector borrowing explosion
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His successor faces challenges ensuring market liquidity and stability amid high UK borrowing needs and as the central bank sells its bond holdings
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Stheeman warns politicians against ignoring markets, citing the recent UK volatility under Liz Truss as an example
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He made a controversial decision to reject investor bids in a debt auction during the financial crisis, aiming to protect taxpayers but causing market turmoil