Deputy Governor Minouche Shafik to leave Bank of England

According to the Bank of England, Minouche Shafik, Deputy Governor for Markets and Banking, will leave the Bank at the end of February 2017 to become the Director of the London School of Economics (LSE).

Bank of England Governor Mark Carney said: "We will say farewell to Minouche with gratitude and regret. She helped drive vital reforms on the domestic and international stages, perhaps most prominently in the successful completion of the Fair and Effective Markets Review which she co-chaired. She has overseen a transformation in how we manage our balance sheet and is modernising our high-value payments system. This has been alongside the invaluable insight she brings to all three main policy committees of the Bank and the inspirational leadership she gives to her colleagues. In her work and by her example, she leaves an important legacy. We wish her the very best for the future."

Minouche said: "It has been such a privilege to work with colleagues at the Bank of England and to serve alongside fellow members of the MPC, FPC, PRA Board and Court of Directors. I have especially enjoyed connecting the dots and the people across the Bank's monetary, macroprudential and microprudential policy responsibilities. Together we have stood up to every test, maintaining stability with a modern approach. The Bank is a vital institution full of talented people committed to serving the public good - I will miss them a great deal. While it was impossible to resist the opportunity to lead a world-class university like the LSE, I leave the Bank with a deep appreciation for its work and much admiration of its staff."