BOE Deputy Governor Shafik Resigns to Become Director of LSE
- MPC member will remain in post until the end of February 2017
- Shafik’s term of office was due to last until July 2019
BOE Deputy Governor Minouche Shafik Resigns for LSE
Bank of England Deputy Governor Minouche Shafik resigned less than halfway through her term after being appointed to lead one of the U.K.’s most high-profile universities.
The departure of the 54-year-old chief of markets and banking will worsen the gender imbalance at the BOE’s top tier that Mark Carney bemoaned when he took over as governor in 2013. It also means the central bank loses a former International Monetary Fund official who presides over a wide-ranging remit covering the growing balance sheet and representation in international forums. Those considerations -- as Brexit shakes up Britain’s relationship with the rest of the world -- may influence the U.K. government’s thinking in its search for a successor.