Former business leader and city minister Lord Myners has died at the age of 73. 

His family confirmed in a statement first published in The Guardian on Sunday (16 January) that Myners had "passed away peacefully" at Chelsea & Westminster hospital in London.

Myners had an extensive career in both finance and government.

In 2001 he delivered the Myners Report to HM Treasury, which reviewed institutional investment in the UK and questioned if institutional investors were acting in the best interest of their beneficiaries, prompting a shake-up in how pension funds were run.

Former prime minister Gordon Brown, who worked with Myners during the Global Financial Crisis, tweeted on Sunday that Myners was "a real tower of strength throughout that time" and that his "thoughts are with this family at this sad time".

Along with his roles in government, Paul Myners CBE had numerous roles in the financial sector, including positions with Gartmore and RIT Capital Partners where he served as a board member from August 2010 until April 2016.

He also held directorships at NatWest, Coutts & Co, Lloyds of London, the Bank of New York and Singapore's sovereign wealth fund, as well as a membership of the Court of the Bank of England.