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Bank of England makes senior appointments
19 March 2014
New appointees to start work in July and August
Bank of England
HM Treasury has announced that Her Majesty The Queen has
agreed, on the recommendation of the chancellor and prime
minister, to appoint Anthony Habgood as the chairman of Court
and Dr Ben Broadbent,as deputy governor for monetary policy.
In addition, the Chancellor and the Governor have agreed to
appoint Dr Nemat Shafik as deputy governor of the Bank of
England responsible for markets and banking.
The appointments of Habgood and Dr Broadbent are effective 1
July 2014. The appointment of Dr Shafik is effective 1 August
Habgood, who was appointed for a renewable term of four years,
will succeed current chair Sir David Lees, who will leave at
the end of June. As chair of the bank's Court of Directors, he
will lead Court in its responsibility for managing the affairs
of the bank, other than the formulation of monetary policy and
will also chair the Oversight Committee of Court.
As the Bank's deputy governor for monetary policy, Dr Broadbent
will have specific responsibility for the bank's research and
analysis of the UK economy in support of Monetary Policy
Committee (MPC) decisions and for the provision and
distribution of bank notes that are secure against the threat
He will sit on the bank's Court of Directors, the Monetary
Policy Committee and the Financial Policy Committee and is also
responsible for chairing MPC in the event of the Governor's
As deputy governor for markets and banking, reporting directly
to the governor, Dr Shafik will provide greater focus at the
very top of the bank on these two core policy areas. The
government has indicated its intention to place this
appointment on a statutory basis in due course.
Once formalised, Dr Shafik will hold seats on the MPC, the
Financial Policy Committee (FPC) and the Court of Directors. In
addition, the Court of the Bank will appoint the Dr Shafik to
the board of the Prudential Regulation Authority.