U.K.’s Hammond Appoints HSBC’s Ward as Key Economic Adviser

U.K. Chancellor Philip Hammond has appointed HSBC Holdings Plc Chief European Economist Karen Ward as his key economic adviser.

Ward, formerly an economist at the Bank of England, has been appointed as special economic adviser to the Chancellor of the Exchequer and is scheduled to start this coming week, the Treasury confirmed on Saturday. The story was first reported by Sky News.

The appointment comes just weeks before Hammond sets out his first Autumn Statement, and follows a week of market turmoil over mounting evidence the U.K. is heading for a so-called hard Brexit. Ward has also held the posts of senior global economist and U.K. economist at HSBC.

The chancellor has suggested he’ll use the Nov. 23 fiscal statement to announce a framework of measures to support the economy through the turbulence of Brexit negotiations, including targeted infrastructure and investment projects.

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