Carney revamps Bank of England management

Ben Broadbent and Nemat Shafik will become deputy governors at the Bank of England as Mark Carney leads the biggest management shakeup since the institution gained independence in 1997.

In addition, chief economist Spencer Dale and Andrew Haldane, executive director for financial stability, are to swap jobs, while markets director Paul Fisher will leave the monetary policy committee.

Mr Broadbent is currently an external member of the committee, while Ms Shafik is an official at the IMF in Washington.