BoE’s Hogg steps down after criticism
LONDON: Charlotte Hogg resigned as Bank of England (BoE) deputy governor after criticism from lawmakers for failing to disclose that her brother works for a bank she would help to regulate.
The resignation is an embarrassment for the BoE and puts it under pressure to show it’s learned from two potential conflict of interest issues in the past few years.
The statement followed a report from Parliament’s Treasury Committee that said Hogg’s “professional competence falls short of the very high standards required to fulfil the responsibilities of deputy governor”.
She revealed earlier this month that she had failed to report that her brother Quintin worked for Barclays Plc when she was hired as chief operating officer.
She also didn’t mention it in her application for deputy governor, and it only came to light after her appointment, in a questionnaire she completed for lawmakers.
The issue was made worse by the fact that she told a hearing on February 28 that she had always declared potential issues. Bloomberg