Wednesday 20 September 2017

Bank of England deputy governor resigns over failure to reveal brother's Barclays role

Bank of England Deputy Governor Charlotte Hogg failed to disclose a family link to Barclays Plc when she was hired in 2013. Photo: Bloomberg
Bank of England Deputy Governor Charlotte Hogg failed to disclose a family link to Barclays Plc when she was hired in 2013. Photo: Bloomberg

The Bank of England’s second most senior official has resigned just weeks after her appointment.

The bank said Charlotte Hogg had resigned as its deputy governor for banking and markets and as its chief operating officer after she failed to declare a potential conflict of interest.

It came immediately after a UK Parliamentary committee said she could no longer be considered suitable for her role, after she had failed to disclose her brother's role at Barclays bank when she initially joined the Bank of England.

"While I fully respect her decision taken in accordance with her view of what was the best for this institution, I deeply regret that Charlotte Hogg has chosen to resign from the Bank of England," Bank of England Governor Mark Carney said in a statement.

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