Central bank names Dave Ramsden as new deputy

Treasury official Sir Dave Ramsden is to replace Charlotte Hogg as a Bank of England deputy governor in the wake of her controversial departure earlier this year.

Ramsden, who led the Treasury’s work on whether the UK should join the euro at the turn of the century, will also join the central bank’s rate-setting monetary policy committee (MPC), it was revealed yesterday.

His appointment as the new deputy governor for markets and banking will take effect from 4 September and comes after the Bank was left red-faced in March when Hogg resigned just two weeks after she took up the post for failing to declare her brother works for Barclays.

A report by MPS found her “professional competence falls short” of the standards required for the role after the conflict of interest breach.

Ramsden said: “I am honoured to be joining the Bank and to be given the opportunity to contribute to the Bank’s mission to maintain monetary and financial stability.”