BoE Once Again Searching For New Deputy Governor

March 14, 2017 Share Print 0

Charlotte Hogg, the Bank of England’s most senior female executive, resigned after criticism from lawmakers for failing to disclose that her brother works at Barclays Plc, a bank which the BOE regulates.

The resignation is an embarrassment for the BOE, which is now under pressure to show it’s learned from two potential conflict of interest issues in the past few years. Hogg, chief operating officer since 2013, took over as deputy governor for markets and banking at the start of this month, a role that includes responsibilities for bank supervision.

The resignation statement followed a report from Parliament’s Treasury Committee, led by Andrew Tyrie. It said that Hogg’s “professional competence falls short of the very high standards required to fulfill the additional responsibilities of Deputy Governor.”

Bloomberg

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.