LONDON, Sept 12 (IFR) - Minouche Shafik, deputy governor of
the Bank of England, is to leave the central bank to become
director of the London School of Economics.
The bank said she will leave her position, with
responsibility for markets and banking, at the end of February.
Shafik joined the bank for a five-year term in August 2014
after a stint as a deputy managing director of the International
Monetary Fund. She oversaw a period dominated by scandals at the
banks she monitored.
Soon after her appointment in October 2014 she made a speech
saying that rather than "a few bad apples" being responsible for
these issues, perhaps the problems in FICC markets were more
deep-rooted. She asked "is something also wrong with the
She also co-chaired the Fair and Effective Markets review,
which undertook at deeper look at the FICC markets.
Initially she was tasked with looking at how the Bank of
England might exit from its quantitative easing policy. That has
since been reversed following the UK's referendum on European
Union membership in June. The decision to leave the EU prompted
the bank to lower interest rates and reintroduce quantitative
easing policies again.
The UK Treasury is responsible for appointing Shafik's
successor. She starts at the London School of Economics in
(Reporting by Christopher Spink)