Debt Management Office (United Kingdom)

The Debt Management Office (DMO) of the United Kingdom is the executive agency responsible for debt and cash management for the UK Government, lending to local authorities and managing certain public sector funds.

The office was established on 1 April 1998, when responsibility for government wholesale sterling debt issuance was transferred from the Bank of England to the DMO following the transfer of operational responsibility for setting official United Kingdom interest rates from HM Treasury to the Bank of England in May 1997.

The DMO is legally and constitutionally part of HM Treasury but operates at arm's length as an executive agency. The minister ultimately responsible for the agency is the Chancellor of the Exchequer, who sets its policy and financial framework, while operational decisions on debt and cash management and the day-to-day management of the office are delegated to the DMO's Chief Executive.

Since 2024 the Chief Executive has been Jessica Pulay, who succeeded Sir Robert Stheeman after more than two decades in the role.