LONDON, June 18 The Bank of England has
appointed Charlotte Hogg as its chief operating officer, a newly
created post to help the 300-year-old institution manage its
growing range of day-to-day duties.
Hogg, who has been head of retail distribution at Santander
UK since 2011, will take responsibility for human
resources, information technology and finance, giving the
central bank's governor more time to focus on policy.
The appointment was made by incoming governor Mark Carney,
who will replace Mervyn King at the start of July.
The new role of chief operating officer was announced last
year in response to concerns that the governor would be
overburdened by an increase in the central bank's powers.
Following a sweeping overhaul of Britain's regulatory
framework, the Bank of England is now in charge of both monetary
policy and financial regulation, making it one of the most
powerful central banks in the world.
"My tenure at the bank will oversee a significant
transition," Carney said. "Charlotte brings an outstanding track
record and breadth of experience that will help to catalyse that
Hogg began her career at the Bank of England before moving
to the private sector, where she worked for McKinsey, Morgan
Stanley and Experian before joining Santander.
The status and remuneration of the operations chief will be
on a par with that of the bank's three deputy governors, the
Bank of England said.
In 2012-13 the deputy governors were paid around 260,000
pounds a year in salary and benefits.