Gadhia withdraws from BoE job

Britain’s finance ministry said on Tuesday that Jayne-Anne Gadhia, recently appointed as an executive at US online services provider Salesforce, will no longer take up her appointment on a top Bank of England panel.

Gadhia, formerly chief executive officer of lender Virgin Money, had already delayed her appointment to the BoE’s Financial Policy Committee (FPC) until April 2020, a year later than planned.

Her decision to withdraw puts the lack of diversity in the BoE’s three main monetary, financial and regulation policy committees back in the spotlight. Lawmakers have criticised the finance ministry for appointing too few women to the committees.

There are 17 men currently serving as voting members of the BoE’s main policy committees, compared with five women.

“We are of course sorry that Jayne-Anne Gadhia won’t be taking up her role as an external member on the Financial Policy Committee,” the BoE said in a statement. (RTRS)