Senior Treasury civil servant Sir Dave Ramsden has been selected as the Bank of England’s new governor for markets and banking.
He replaces Charlotte Hogg, who resigned in March just two weeks into the job after failing to declare her brother worked for Barclays.
Sir Dave will also join the Bank’s Monetary Policy Committee (MPC), which sets interest rates.
He said he was “honoured” to be given the role, which he starts in September.
He added that he welcomed “the opportunity to contribute to the Bank’s mission to maintain monetary and financial stability, at such an important time for the UK economy”.
Given Sir Dave’s present job as chief economic adviser to the Treasury, his personal views on monetary policy are not clear.
Nomura economist George Buckley said: “He’s been very tight-lipped when it comes to monetary policy. Even on fiscal policy… he communicates the government’s and the [Office for Budget Responsibility’s] view.”