BOE Cashier Cleland Promoted, Hauser to Oversee Markets Division

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(Bloomberg) -- Bank of England Chief Cashier Victoria Cleland has been promoted to executive director, adding a woman to the bank’s senior management level.

Cleland will become executive director for Banking, Payments & Financial Resilience, a BOE spokesperson confirmed. The current holder of that role, Andrew Hauser, will become executive director for Markets, replacing Chris Salmon, who stepped down last month.

The shakeup among executive directors comes just a year before Governor Mark Carney is due to depart. Carney has pushed to improve the gender balance at the U.K. central bank during his tenure, although the institution has still been criticized by lawmakers for a lack of diversity.

At a conference in London on Tuesday, Cleland said she would next month take charge of the Real Time Gross Settlement system, which processes electronic payments in the U.K. She has been in charge of cash circulation since 2014, a role that required her signature to appear on every new banknote issued. Her promotion suggests there will now be five women among the BOE’s executive directors.

Hauser has been at the BOE since 1992. His current role also involves assessing the bank’s financial risks and overseeing wholesale and retail banking operations, as well as its work on fintech. Salmon, his predecessor in the market division, said last month he was leaving the central bank to pursue an opportunity in the private sector.

Anthony Habgood, chairman of the BOE’s governing body, is also due to retire in June. His replacement will named by the government, as will Carney’s successor.

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