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Bank of England creates post to identify conflicts of interest

Wednesday, August 9, 2017 - 17:57

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The Bank of England said on Wednesday it will create a new post to identify potential conflicts of interest among its staff after a review prompted by the resignation of a top official who failed to declare her brother worked for a major bank.

[LONDON] The Bank of England said on Wednesday it will create a new post to identify potential conflicts of interest among its staff after a review prompted by the resignation of a top official who failed to declare her brother worked for a major bank.

The Bank said it would update its requirements for notification of personal relationships and potential conflicts, as recommended in the review which was conducted by the BoE's non-executive directors.

"I welcome this review and its recommendations, which will be implemented in full," BoE Governor Mark Carney said.

In March, Charlotte Hogg resigned as deputy governor after a parliamentary committee rebuked her over her failure to declare a potential conflict of interest about her brother's role at Barclays.

REUTERS

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