Bailey Faces BOE Leadership Revamp as Most Senior Woman Shifts

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The Bank of England faces a widening reshuffle among its upper echelons as both the head of its governing body and the institution’s most senior woman prepare to leave their roles.

Bradley Fried, chair of the Court of Directors since 2018, will not seek a second term, and the process of replacing him will begin later this year, according to minutes of the BOE’s Court meeting in April, published Wednesday.

Chief Operating Officer Joanna Place, the only woman at the management level of deputy governor, will be “moving across from her current role” to “lead the bank’s regional strategy,” which includes creating a new hub in the North of England, the document said.

The BOE doesn’t intend that any current staff will be required to relocate as a result of the regional strategy, according to the minutes.

The personnel moves compound a period of a flux among senior roles in the BOE, just over a year since Governor Andrew Bailey took the helm.

The bank is seeking a new chief economist after Andy Haldane said he will leave the post this month, ending three decades at the institution. Alex Brazier, previously tipped as a rising star, has also quit, with his position as executive director for financial stability strategy and risk due to be taken by Sarah Breeden.

The Monetary Policy Committee will need a new external member when Gertjan Vlieghe leaves in August. That appointment is made by the Treasury.

The position of director of monetary analysis, a pivotal role in compiling the bank’s forecasts, remains unfilled, according to an organizational chart on the BOE’s website dated June 1. The previous holder, James Bell, has taken over as communications chief.

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