But a parliamentary committee said in a report that it found Ms. Hogg’s professional competence “falls short of the very high standards” required to be deputy governor, adding
that her failure to disclose her brother’s role was a “serious error of judgment.”
Mr. Carney said on Tuesday that he deeply regretted Ms. Hogg’s decision to resign, saying in a statement
that she had “transformed” its management and operations.
But it said that her conduct was “more serious” than a simple omission given the length of time before it was disclosed, her role in helping to draft the central bank’s code of conduct
and her “failure to appreciate the seriousness of that history of noncompliance.”
Ms. Hogg initially declared her brother’s role at Barclays in a questionnaire submitted to the Treasury Committee on Feb. 22.
Bank of England Official Resigns After Critical Parliament Report -
By CHAD BRAYMARCH 14, 2017
LONDON — A senior Bank of England official who had been named a deputy governor at the central bank has resigned after a Parliament committee found
that her failure to disclose a potential conflict of interest showed she lacked the competence to take on a new role overseeing banks and financial markets.
While praising improvements in the central bank’s transparency, accountability and governance, the Treasury Committee said
that the incident involving Ms. Hogg raised “wider concerns” about the bank’s governance and that further reform may be needed.
In the case of Ms. Hogg, the Treasury Committee said
that she did not deliberately conceal her brother’s role as director in group strategy at Barclays or that any prior conflict had arisen.
