Bank of England Appoints New Deputy Governor

The Bank of England (BoE) has appointed Charlotte Hogg as its new deputy governor for markets and banking, in a statement made by the Chancellor of the Exchequer Philip Hammond. Ms Hogg was the bank’s chief operating officer, but will be taking up the new position on the 1^st of March, following the resignation of the current deputy governor, Minouche Shafik. Hogg will oversee the BoE’s bond-buying programme. Hogg has a wealth of experience in finance and consulting, having worked with consulting firm McKinsey, Morgan Stanley, Experian and Santander.

“I’m confident that her exceptional leadership skills and wide-ranging experience make her the right person to take on the position.

“Charlotte has done an excellent job as the Bank’s first chief operating officer. She will take over this new role at a key time for the City.” said Chancellor Hammond. The Bank’s governor Mark Carney also highlighted her background as a key reason for her appointment.  “Many of the top priorities in Markets and Banking currently coincide with those of the Bank’s central operational areas, meaning Charlotte is the ideal person to lead these efforts.

“Charlotte’s breadth of financial sector and operational experience will contribute valuable, broader perspectives to the Bank’s policy committees.” The bank has also revealed that Kristin Forbes will be leaving the Monetary Policy Committee at the end of June, to return to her previous career as an academic in the U.S.