Bank of England appoints Carolyn Wilkins to Financial Policy Committee

Wilkins was previously a Bank of Canada official who served as senior deputy governor,

Bank of England appoints Carolyn Wilkins to Financial Policy Committee

Carolyn Wilkins has been appointed as an external member of the Financial Policy Committee (FPC), the Chancellor of the Exchequer Rishi Sunak has confirmed.

Wilkins, who was previously a Bank of Canada official serving as senior deputy governor, will serve a three-year term which is set to start on 21 June.

She replaces Donald Kohn, a founding member of the committee, who stepped down at the end of last month.

The Chancellor of the Exchequer said: "The FPC plays a crucial in role in protecting and enhancing the resilience of our financial system.

"I want to thank Donald Kohn for his tremendous contribution to the FPC’s work over the past ten years.

"I am pleased to appoint Carolyn Wilkins to the committee - Carolyn has a respected track record built over 20 years at the Bank of Canada and her extensive experience in international financial regulation will be a real asset to the FPC.

Andrew Bailey, Governor of the Bank of England, added: "Don’s contribution to the work of the FPC cannot be overstated. As one of the FPC’s original members his valuable expertise and insight on macroprudential policymaking and its evolution over the years has been integral to the Committee’s work.

"I am delighted to welcome Carolyn to the FPC as an external member. Her senior leadership positions at the Bank of Canada, most recently helping drive the Bank’s response to the Covid-19 crisis, and extensive knowledge of the global financial system, means she will bring fresh analysis and valuable input to the Committee’s deliberations."

The FPC has thirteen members. Six of them are Bank of England staff including the Governor and four Deputy Governors whilst the remaining five are external members who are selected from outside the BoE for their experience and expertise in financial services.