The Bank of England has been plunged into crisis by the resignation of one of its most senior officials following withering criticism from MPs over a perceived conflict of interest concerning her brother.
Charlotte Hogg, the chief operating officer and deputy governor, tendered her resignation for failing to comply with the Bank’s code of conduct, which she helped to write. Her mistake was not to disclose that her brother, Quintin Hogg, is a director in the strategy team at Barclays, one of the high street lenders she regulates.
Ms Hogg’s fall from grace at the hands of MPs on the treasury select committee is all the more striking because she comes from an aristocratic family with a history of public service. Her father, the third