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Sir David Ramsden has been appointed as the new deputy governor of markets and banking at the Bank of England, it was announced Thursday.
Ramsden will take up his position in September and replaces Charottle Hogg who resigned in March.
As the Bank’s deputy governor for markets and banking, Ramsden will be responsible for managing the balance sheet of the Bank amongst other duties and will also be a member of the Monetary Policy Committee.
The chancellor of the exchequer, Philip Hammond, said: “I’m delighted to appoint Sir Dave Ramsden as the next deputy governor for markets and banking.
“Sir Dave’s unrivalled experience at the centre of UK economic policy for more than two decades gives him the thorough grounding needed to be successful in his new role. His departure will be a loss to the Treasury but he will be a huge asset to the Bank and I wish him every success.”