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UK treasury moves Ramsden to top echelon of Bank of England

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The UK Treasury appointed one of its most senior officials as the new deputy governor for markets and banking at the Bank of England.

[LONDON] The UK Treasury appointed one of its most senior officials as the new deputy governor for markets and banking at the Bank of England.

Dave Ramsden will take up the position on Sept 4, replacing Charlotte Hogg, who resigned earlier this year after a short time in the role.

Mr Hogg was also chief operating officer at the BOE - a relatively new position - and the BOE said Joanna Place, head of human resources, will take that job.

Mr Ramsden had been a Treasury representative at Monetary Policy Committee meetings and was seen as one of the contenders for the deputy governorship, which has a renewable term of five years.

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He'll get his first vote on interest rates at the Sept 14 decision.

The deputy governor job includes managing the central bank's balance sheet, looking after market operations, the government's foreign-exchange reserves, the UK's large-value payment system, and the gathering of market intelligence.

Together with Deputy Governor for Financial Stability Jon Cunliffe, Mr Ramsden will be responsible for the BOE's international strategy and represent the central bank at several global forums.

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