Bank of England reshuffles management

LONDON

The Bank of England's Finance Director, Warwick Jones, has today announced that he plans to retire at the end of June 2013, fulfilling his long-standing plan to leave the Bank at the same time as the Governor, Sir Mervyn King.

Sir Mervyn said, "I want to extend my warmest personal thanks to Warwick for his outstanding contribution to the Bank over the past 6 years.

He has transformed the financial management of the Bank and been a source of great wisdom and strength both to me personally and to his colleagues."

Before seeking a new Finance Director, the Governor has initiated the search for a Chief Operating Officer for the Bank of England.

The Chief Operating Officer will work alongside the Deputy Governors and will take responsibility for the day to day management of the Bank, including the oversight of the Finance, Information Technology and Human Resource functions.