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LSE appoints Deputy Governor of Bank of England as new Director

The London School of Economics and Political Science (LSE) has appointed Dame Minouche Shafik as its new Director, effective from 1 September 2017.

An alumna of LSE with longstanding connections to the School’s research and public engagement programme, Minouche is the first woman to be appointed to the position on a permanent basis and LSE’s 16th Director overall.

Dame Minouche ShafikShe is currently Deputy Governor of the Bank of England where she is a member of the Monetary Policy Committee, the Financial Policy Committee, and the Board of the Prudential Regulation Authority. 

Previously she served as Deputy Managing Director of the International Monetary Fund, Permanent Secretary of the Department for International Development, and Vice-President of the World Bank.  She has taught at the Wharton Business School and Georgetown University and published on a wide array of topics in economics and international development.

Minouche joins LSE as it continues with the most significant redevelopment of its campus in its 121 year history and following the announcement that it will invest £11m in education and enhancing student experience.

Alan Elias, LSE’s acting Chair says, “This is an exciting time for the School. A lot is happening already and now we are delighted to be welcoming an outstanding leader with such an exemplary track record and with a global standing to match LSE’s own international reach and reputation.”

Minouche Shafik says, “I am thrilled to be given the opportunity to lead the LSE.  The School’s long tradition of bringing the best of social science research and teaching to bear on the problems of the day is needed now more than ever. LSE is a unique institution that combines intellectual excellence and global reach. I am looking forward to working with both staff and students to guide it through what will be a time of challenge and opportunity in the higher education sector.”

Professor Julia Black will continue to lead the School on an interim basis until the new Director takes up her post in 2017.

Notes to editors

  • Dr Nemat “Minouche” Shafik has been appointed as LSE’s first permanent female Director starting 1 September 2017.

  • She became the first Deputy Governor, Markets and Banking on 1 August 2014.  She is a member of the Monetary Policy Committee, the Financial Policy Committee, the Board of the Prudential Regulation Authority and the Bank’s Court of Directors.  She represents the Bank of England in international contexts including as G20 Deputy, with overseas central banks and the Bank for International Settlements.

  • Dr Shafik was Deputy Managing Director of the IMF from 2011 to 2014 where she oversaw work on countries in Europe and the Middle East. She was responsible for the IMF’s $1 billion administrative budget, human resources for its 3,000 staff and oversees the IMF’s training and technical assistance for policy makers around the world.

  • She was Permanent Secretary of the Department for International Development (DFID) from March 2008 to March 2011. As chief executive of the department responsible for all UK development efforts she oversaw a bilateral aid programme in over 100 countries, multilateral policies and financing for the United Nations, European Union and international financial institutions, and overall development policy and research. Prior to coming to DFID in 2004, Nemat was the youngest ever Vice President at the World Bank.

  • Minouche held academic appointments at the Wharton Business School of the University of Pennsylvania and the Economics Department at Georgetown University. She has a BA in Economics and Politics from the University of Massachusetts-Amherst, an MSc in Economics from the London School of Economics and a DPhil in Economics from St. Antony's College, Oxford University.  She has published a number of books and articles on a wide variety of economic topics.  


12 September 2016

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