FIRST AIRED: March 14, 2017

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Transcript

00:00:01
>> Bank of England Deputy Governor Charlotte Hogg resigning just weeks into her new role, standing down after failing to declare a potential conflict of interest about her brother's role at leading bank Barclay's. Hogg joined the BOE in 2013 as Chief Operating Officer, and expanded her position to become Deputy Governor for Markets and Banking on March the 1st.
00:00:20
Reuter's breaking views, George Hay.>> Particularly important that you are perceived to be whiter than white. And unfortunately, when she joined, between the time in which she joined in 2013 and when she got interviewed for this position in 2017, she hadn't revealed that her brother worked for Barclay's.
00:00:41
And that's a big deal.>> She had been widely tipped to have eventually succeed Governor Mark Carney and would have been the first ever female boss of the bank. However, while being questioned about her promotion by MPs, she revealed her brother's job. The discovery prompted a fierce rebuke from lawmakers.
00:00:58
The bank said on Tuesday, Hogg stepped down voluntarily, Connie expressing his deep regret at her decision, but stating he fully respects it. Earlier in the day a committee of lawmakers said Hogg could no longer be considered suitable for the role, saying her professional confidence falls short of the very high standards required to fill the position.
00:01:18
>> From the outside it was pretty obvious that Charlotte Hogg had broken the code of conduct and that was a big deal. They seem very slow to react to the Bank of England on that fundamental point. So expect further questions to be asked about not only Charlotte Hogg, who's now departed, but the court of directors as well.
00:01:39
>> Hogg has said she didn't share confidential information or misuse it in any way.