Mark Carney, the new Governor of the Bank of England has hired consultancy firms McKinsey and Deloitte to head a strategic review of the bank’s resources and priorities.
As a part of the move, McKinsey along with the bank’s new COO Charlotte Hogg will oversee the strategic plan analysing BOE’s priorities, resources, working methods and time allocation over the coming years, while Deloitte will conduct a value for money review targeting on the bank’s services including IT and human resources.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Deloitte’s review will look for savings in the BOE’s central services budget.
The move comes after three months since Carney took over his responsibilities in his new job.
The analysis will initially be targeted on finding duplication in work across different teams and also look at salary differentials between staff who were previously employed by the now-disbanded Financial Services Authority and BoE officials.
Carney said MPs in February summarizing his plans for a shared vision, maximised synergies from the collection of policy functions and lower costs of central support functions such as personnel and IT.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
