New start for Bank of England’s Dale
After 25 years at the helm, the Bank of England has announced the departure of Spencer Dale, the bank’s executive director for financial stability strategy and risk.
Dale is becoming the chief economist of BP plc in October 2014.
Recruitment for Dale’s replacement will begin shortly, and as required by the Bank of England Act the Chancellor of the Exchequer will be consulted.
On leaving the bank, Dale said: “It has been a huge privilege to serve the Bank of England over the past 25 years.”
“This is a tremendous institution that has changed remarkably since I joined, and whose additional responsibilities mean it has a central role in ensuring economic and financial stability for the UK.”
