In 1988, when the Liberal Party merged with the Social Democratic Party to form the Liberal Democrats, Ashdown was elected the leader of the new party and led the party through the 1992 and 1997 general elections. He resigned in 1999, and was given both a knighthood and a seat in the House of Lords. In the House of Lords, he was given the title Baron Ashdown of Norton-sub-Hamdon. From 2002 to 2006 he served as High Representative for Bosnia and Herzegovina.