Deputy Governor of Bank of England to Lead London School of Economics

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Nemat Shafik, a member of the central bank committee that sets interest rates, is an alumna of the London School of Economics.

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Mandel Ngan/Agence France-Presse — Getty Images

LONDON — The Bank of England said on Monday that Nemat Shafik, its deputy governor for markets and banking, would leave the central bank at the end of February and become director of the London School of Economics later in 2017.

Ms. Shafik, who goes by Minouche, is a member of the central bank committee that sets interest rates. She is a graduate of the London university, which she will join on Sept. 1.

“We will say farewell to Minouche with gratitude and regret,” Mark Carney, the Bank of England governor, said in a news release. “She helped drive vital reforms on the domestic and international stages, perhaps most prominently in the successful completion of the Fair and Effective Markets Review, which she co-chaired.”

Th markets review was the bank’s response to a series of financial scandals in Britain, including manipulation of the London interbank offered rate, or Libor.

Ms. Shafik joined the Bank of England in August 2014 from the International Monetary Fund, where she served as deputy managing director and permanent secretary of the British Department for International Development, which works to end extreme poverty worldwide. She was once the youngest-ever vice president of the World Bank.

At the Bank of England, Ms. Shafik served on two of the bank’s most important bodies: the Monetary Policy Committee and the Financial Policy Committee. She was also a member of the board of the Prudential Regulation Authority. Her term at the bank was set to expire in 2019.

“While it was impossible to resist the opportunity to lead a world class university like the L.S.E.,” Ms. Shafik said, “I leave the bank with a deep appreciation for its work and much admiration of its staff.”

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12 September 2016 | 11:01 am – Source: nytimes.com

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