The Bank of England has appointed Sir Dave Ramsden as deputy governor from the Treasury, where he was chief economic adviser.
He is replacing Charlotte Hogg – who resigned in May after failing to declare her brother’s job at Barclays as a potential conflict of interest.
Sir Dave will take up his post on September 4.
He said: “I am honoured to be joining the Bank and to be given the opportunity to contribute to the Bank’s mission to maintain monetary and financial stability, at such an important time for the UK economy.”
Joanna Place, who was acting deputy governor and chief operating officer, will take over the latter role permanently.