U.K. Institute Niesr Names Chadha as Director to Replace Portes

  • Kent University professor will join research center in May
  • Chadha offered `compelling vision' for future of Niesr

Britain’s National Institute of Economic and Social Research appointed Jagjit Chadha as its new director to replace Jonathan Portes.

Chadha, an economics professor at the University of Kent who has spent much of his career in academia after stints at the Bank of England and BNP Paribas, will take up his position in May, the institute said on Monday in a press release on its website.

“Chadha presented the trustees with a compelling vision for the future of Niesr, recognizing the importance of its strong independent voice at the center of U.K. policy debates,” former BOE policy maker Tim Besley, who chairs Niesr’s council of management, said in the press release. “His blend of academic and policy experience will underpin the strategic leadership that NIESR needs.”

When Portes resigned in October, he described the institute founded in 1938 as in need of “a new business model.” He had replaced Martin Weale, who moved to the Bank of England’s Monetary Policy Committee in 2011 and had led Niesr as an outspoken critic of the coalition government’s austerity policies.

According to its website, the institute has 35 research staff, and manages a global econometric model that is used by the International Monetary Fund and by many central banks in Europe.

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