Bank of England appoints new financial stability head

Andrew Haldane will replace Nigel Jenkinson as executive director for financial stability at the Bank of England from January 1 2009.

Haldane joined the Bank of England in 1989, and has been in his current role as head of the systematic risk assessment division since 2005. His responsibilities have included supervising the Bank’s quantitative risk assessment framework and its bi-annual Financial Stability Report.

Recently, he worked on the redesign of the Bank’s financial stability framework, as well as the design and implementation of the recapitalisation plan for UK banks, announced by Gordon Brown, the UK prime minister, on October 8.

Jenkinson has held the post since 2003, but will leave the bank next year to pursue public policy interests in the field of international financial stability. He will continue to work at the bank for the rest of the year, overseeing the Banking Bill, and advising Mervyn King, governor of the bank, on international regulation of bank liquidity.

See also: UK government unveils £50 billion bank recapitalisation plan