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15.03.201701:54:00UTC+00BOE’s Hogg Tenders Resignation after Legislator Critique

Charlotte Hogg resigned as Bank of England's deputy governor following lawmakers unveiled a report concluding she is not qualified enough to become one of the central bank's leading officials.

Hogg left the central bank as the Treasury select panel released a highly crucial report which came from her failure to divulge her brother's work at Barclays, one of the banks under her oversight.

Last month, Hogg had initially told MPs the BOE was familiar with Quintin Hogg's work at the financial institution. She then admitted she was not able to admit a potential conflict of interest, breaching the guideline she helped to draft.

Her admission propelled legislators to hold various closed-door deliberations to discuss the matter.

Hogg joined the BOE as chief operating officer in 2013, but promoted to the second highest job on March 1.

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