Bank of England: Gertjan Vlieghe named as new MPC member

Senior economist at hedge fund returns to Bank of England, replacing David Miles on rate-setting committee

Chancellor George Osborne has announced that Gertjan Vlieghe, a senior economist at hedge fund Brevan Howard, will replace David Miles on the Bank of England's monetary policy committee.

The move marks a return to the Bank for the dual British-Belgian national Vlieghe, who was economic assistant to the previous governor Lord Mervyn King. He left that post to work as a bond strategist at Deutsche Bank in London before moving to Brevan Howard, where he is a partner.

Related: Why Mark Carney shouldn't rush to play the rate-rise card

Delighted to appoint Dr Gertjan Vlieghe to Bank's MPC - an economist of outstanding ability with public + private sector experience