The Bank of England announced earlier this week that Charlotte Hogg, the head of retail distribution and intermediaries at Santander U.K., will take over as the COO of the central bank on July 1.
The COO position is a new bank position, reflecting recent changes in the bank’s functions. Hogg will be responsible for all aspects of the bank’s day-to-day operations, including human resources, IT and security, finance and property. The COO has status and remuneration equivalent to the central bank’s three deputy governors.
“I am delighted that Charlotte Hogg has accepted the invitation to become the Bank’s first Chief Operating Officer, a position that we have been designing over the past two years in response to the Bank’s new responsibilities,” Mervyn King, the current and departing bank governor, said. “I have followed Charlotte’s highly successful career with great interest since her time as a Kennedy Scholar. She is an important addition to the Bank’s new team.”
Mark Carney, who is set to replace King as governor on July 1 and who made the appointment, said Hogg brings an “outstanding track record and breadth of experience.”
“I am delighted to be returning to the Bank of England, where I started my career in 1992,” Hogg said. “I am looking forward to working closely with Mark Carney as he takes over the Governorship.”