LONDON, March 7 New Bank of England Deputy
Governor Charlotte Hogg said she had failed to declare correctly
to the central bank a potential conflict of interest due to her
brother's employment at Barclays, a major bank which is
overseen by the BoE.
Hogg has worked at the central bank since July 2013 as its
chief operating officer, but did not declare her brother's role
in Barclays' strategy office until she submitted documentation
to a parliamentary committee reviewing her appointment this year
as deputy governor for banking.
"I should have formally declared my brother's role when I
first joined the Bank. I did not do so and I take full
responsibility for this oversight," Hogg said in a letter to the
committee released on Tuesday.
Hogg said the chairman of the BoE's Court of Directors - the
central bank's internal supervisory body - had concluded that no
conflict of interest arose during her service as chief operating
But she said she would ask the BoE's Monetary Policy
Committee, Financial Policy Committee and Prudential Regulation
Committee, on which she now sits to review if further steps were
needed to manage the potential conflict of interest.
(Reporting by David Milliken; Editing by William Schomberg)